Analysts Expect Harmonic Inc (HLIT) to Post -$0.06 EPS

Analysts expect Harmonic Inc (NASDAQ:HLIT) to report earnings of ($0.06) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Harmonic’s earnings, with estimates ranging from ($0.07) to ($0.03). Harmonic reported earnings of ($0.14) per share in the same quarter last year, which indicates a positive year over year growth rate of 57.1%. The firm is scheduled to report its next earnings report on Monday, May 7th.

According to Zacks, analysts expect that Harmonic will report full year earnings of $0.10 per share for the current year, with EPS estimates ranging from ($0.03) to $0.25. For the next financial year, analysts anticipate that the company will post earnings of $0.12 per share, with EPS estimates ranging from $0.08 to $0.15. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Harmonic.

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Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Wednesday, February 28th. The communications equipment provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $100.97 million during the quarter, compared to the consensus estimate of $96.47 million. Harmonic had a negative return on equity of 17.41% and a negative net margin of 23.16%.

A number of research firms recently weighed in on HLIT. BidaskClub raised Harmonic from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research downgraded Harmonic from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.06.

HLIT stock opened at $3.75 on Wednesday. Harmonic has a twelve month low of $2.80 and a twelve month high of $6.03. The stock has a market cap of $315.37, a P/E ratio of -6.94 and a beta of 0.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.21.

In other Harmonic news, insider Neven Haltmayer sold 10,198 shares of Harmonic stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $3.53, for a total transaction of $35,998.94. Following the sale, the insider now directly owns 94,609 shares of the company’s stock, valued at $333,969.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Harshman sold 35,581 shares of Harmonic stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $3.53, for a total value of $125,600.93. Following the sale, the chief executive officer now directly owns 708,160 shares in the company, valued at $2,499,804.80. The disclosure for this sale can be found here. Insiders have sold 56,234 shares of company stock worth $198,506 over the last ninety days. Company insiders own 5.53% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. boosted its holdings in Harmonic by 21.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 936,171 shares of the communications equipment provider’s stock valued at $2,856,000 after purchasing an additional 166,398 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Harmonic by 51.0% during the fourth quarter. Victory Capital Management Inc. now owns 377,712 shares of the communications equipment provider’s stock valued at $1,586,000 after purchasing an additional 127,510 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Harmonic by 193.7% during the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock valued at $154,000 after purchasing an additional 24,244 shares in the last quarter. Royce & Associates LP boosted its holdings in Harmonic by 3.0% during the third quarter. Royce & Associates LP now owns 1,205,499 shares of the communications equipment provider’s stock valued at $3,677,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Divisar Capital Management LLC acquired a new stake in Harmonic during the fourth quarter valued at approximately $3,846,000. 91.77% of the stock is currently owned by institutional investors.

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Harmonic Company Profile

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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