Analysts forecast that Infinera (NASDAQ:INFN) will announce sales of $200.35 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Infinera’s earnings, with the highest sales estimate coming in at $201.20 million and the lowest estimate coming in at $199.70 million. Infinera posted sales of $175.52 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The business is expected to announce its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Infinera will report full-year sales of $200.35 million for the current financial year, with estimates ranging from $814.40 million to $840.00 million. For the next year, analysts anticipate that the firm will report sales of $891.23 million per share, with estimates ranging from $863.00 million to $950.42 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Infinera.
Infinera (NASDAQ:INFN) last released its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $195.82 million for the quarter, compared to the consensus estimate of $190.26 million. Infinera had a negative return on equity of 17.20% and a negative net margin of 26.26%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) EPS.
INFN has been the topic of a number of research reports. ValuEngine upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. BidaskClub upgraded Infinera from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 7th. William Blair reiterated an “outperform” rating on shares of Infinera in a research note on Tuesday, February 6th. B. Riley lifted their target price on Infinera from $10.75 to $11.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Zacks Investment Research downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $11.46.
NASDAQ:INFN traded down $0.49 during mid-day trading on Monday, reaching $10.38. 1,644,339 shares of the stock were exchanged, compared to its average volume of 1,760,628. The company has a market capitalization of $1,626.57, a PE ratio of -12.51 and a beta of 0.53. Infinera has a 1 year low of $6.10 and a 1 year high of $12.38.
In other news, insider David F. Welch sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $9.14, for a total value of $731,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David F. Welch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $9.07, for a total value of $544,200.00. The disclosure for this sale can be found here. Insiders sold a total of 289,093 shares of company stock valued at $2,770,803 over the last three months. Insiders own 3.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors lifted its holdings in shares of Infinera by 127.3% in the 3rd quarter. Nationwide Fund Advisors now owns 214,224 shares of the communications equipment provider’s stock valued at $1,900,000 after buying an additional 119,968 shares during the period. Teton Advisors Inc. lifted its holdings in shares of Infinera by 67.0% in the 4th quarter. Teton Advisors Inc. now owns 196,600 shares of the communications equipment provider’s stock valued at $1,244,000 after buying an additional 78,900 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Infinera by 33.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 374,852 shares of the communications equipment provider’s stock valued at $3,327,000 after buying an additional 93,825 shares during the period. Wells Fargo & Company MN raised its holdings in Infinera by 8.1% during the third quarter. Wells Fargo & Company MN now owns 1,748,085 shares of the communications equipment provider’s stock worth $15,505,000 after purchasing an additional 130,573 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Infinera by 65.2% during the third quarter. JPMorgan Chase & Co. now owns 3,664,481 shares of the communications equipment provider’s stock worth $32,176,000 after purchasing an additional 1,446,641 shares during the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.
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Infinera Company Profile
Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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