Brokerages Anticipate Harmonic Inc. (HLIT) Will Post Earnings of -$0.01 Per Share

Brokerages expect Harmonic Inc. (NASDAQ:HLIT) to report ($0.01) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Harmonic’s earnings. The highest EPS estimate is $0.01 and the lowest is ($0.02). Harmonic posted earnings of ($0.20) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 95%. The firm is scheduled to issue its next earnings report on Monday, July 30th.

On average, analysts expect that Harmonic will report full-year earnings of $0.06 per share for the current financial year, with EPS estimates ranging from ($0.05) to $0.16. For the next year, analysts expect that the business will post earnings of $0.15 per share. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Harmonic.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, April 30th. The communications equipment provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The business had revenue of $90.10 million during the quarter, compared to the consensus estimate of $88.36 million. Harmonic had a negative return on equity of 14.52% and a negative net margin of 19.87%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) earnings per share.

HLIT has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, March 15th. BidaskClub downgraded Harmonic from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th. Finally, Raymond James upgraded Harmonic from an “underperform” rating to a “market perform” rating in a report on Tuesday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $5.06.

Harmonic opened at $3.80 on Tuesday, according to Marketbeat.com. The stock has a market capitalization of $302.47 million, a P/E ratio of -7.04 and a beta of 0.80. The company has a quick ratio of 1.10, a current ratio of 1.28 and a debt-to-equity ratio of 0.56. Harmonic has a 12 month low of $3.65 and a 12 month high of $3.80.

In other Harmonic news, Director Floyd E. Kvamme bought 20,000 shares of the firm’s stock in a transaction on Monday, May 7th. The stock was purchased at an average cost of $3.70 per share, with a total value of $74,000.00. Following the completion of the purchase, the director now owns 758,922 shares in the company, valued at $2,808,011.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sanjay Kalra sold 10,455 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $3.53, for a total value of $36,906.15. Following the completion of the transaction, the chief financial officer now directly owns 39,198 shares of the company’s stock, valued at $138,368.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,972 shares of company stock valued at $205,458. Insiders own 5.53% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in shares of Harmonic by 1,620.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 30,971 shares of the communications equipment provider’s stock worth $130,000 after buying an additional 29,171 shares during the period. SG Americas Securities LLC boosted its position in shares of Harmonic by 193.7% during the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock worth $154,000 after buying an additional 24,244 shares during the period. Spark Investment Management LLC acquired a new position in shares of Harmonic during the fourth quarter worth about $161,000. Arizona State Retirement System boosted its position in shares of Harmonic by 224.9% during the fourth quarter. Arizona State Retirement System now owns 137,181 shares of the communications equipment provider’s stock worth $576,000 after buying an additional 94,963 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Harmonic by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 139,888 shares of the communications equipment provider’s stock worth $419,000 after buying an additional 21,554 shares during the period. 90.56% of the stock is owned by institutional investors.

About Harmonic

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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