Media coverage about Harmonic (NASDAQ:HLIT) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Harmonic earned a media sentiment score of 0.22 on Accern’s scale. Accern also assigned news coverage about the communications equipment provider an impact score of 45.4308522657002 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the news articles that may have impacted Accern’s rankings:
Several equities analysts have commented on HLIT shares. Zacks Investment Research downgraded Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, March 15th. BidaskClub upgraded Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Raymond James upgraded Harmonic from an “underperform” rating to a “market perform” rating in a research report on Tuesday, May 1st. Finally, ValuEngine upgraded Harmonic from a “hold” rating to a “buy” rating in a research report on Monday, June 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $5.06.
Shares of Harmonic traded up $0.05, reaching $4.25, during mid-day trading on Friday, according to MarketBeat Ratings. 72,800 shares of the company were exchanged, compared to its average volume of 578,203. Harmonic has a 52 week low of $2.80 and a 52 week high of $5.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.28 and a quick ratio of 1.10. The company has a market capitalization of $353.65 million, a price-to-earnings ratio of -7.87 and a beta of 0.82.
Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, April 30th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.05. Harmonic had a negative return on equity of 14.52% and a negative net margin of 19.87%. The company had revenue of $90.10 million during the quarter, compared to the consensus estimate of $88.36 million. During the same period last year, the company earned ($0.14) earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. sell-side analysts anticipate that Harmonic will post -0.09 EPS for the current year.
In related news, Director Floyd E. Kvamme acquired 20,000 shares of the stock in a transaction dated Monday, May 7th. The stock was bought at an average cost of $3.70 per share, for a total transaction of $74,000.00. Following the completion of the transaction, the director now directly owns 758,922 shares of the company’s stock, valued at $2,808,011.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is owned by company insiders.
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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