Infinera (NASDAQ:INFN) issued an update on its fourth quarter 2018 earnings guidance on Tuesday morning. The company provided EPS guidance of $-0.3–0.26 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.07. The company issued revenue guidance of $315-335 million, compared to the consensus revenue estimate of $432.23 million.
Shares of NASDAQ INFN traded down $0.04 during mid-day trading on Tuesday, reaching $6.23. 3,296,359 shares of the company’s stock were exchanged, compared to its average volume of 1,973,326. The firm has a market cap of $934.77 million, a P/E ratio of -7.51 and a beta of 0.52. Infinera has a twelve month low of $5.24 and a twelve month high of $12.39.
Infinera (NASDAQ:INFN) last released its quarterly earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $208.23 million for the quarter, compared to analyst estimates of $208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. During the same quarter last year, the firm posted ($0.15) earnings per share. As a group, analysts anticipate that Infinera will post -0.56 EPS for the current fiscal year.
INFN has been the topic of a number of recent research reports. Rosenblatt Securities set a $13.00 target price on Infinera and gave the company a buy rating in a research report on Tuesday, July 24th. Morgan Stanley set a $10.00 target price on Infinera and gave the company a buy rating in a research report on Wednesday, September 26th. BidaskClub lowered Infinera from a buy rating to a hold rating in a research report on Saturday, July 14th. ValuEngine raised Infinera from a sell rating to a hold rating in a research report on Wednesday, August 15th. Finally, Zacks Investment Research lowered Infinera from a buy rating to a hold rating in a research report on Tuesday, August 14th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $10.47.
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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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