Infinera (INFN) Updates Q4 Earnings Guidance

Infinera (NASDAQ:INFN) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ($0.30-0.26) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.06). The company issued revenue guidance of $315-335 million, compared to the consensus revenue estimate of $432.23 million.Infinera also updated its Q4 2018 guidance to $-0.3–0.26 EPS.

A number of research firms recently weighed in on INFN. BidaskClub downgraded Infinera from a buy rating to a hold rating in a research note on Saturday, July 14th. MKM Partners dropped their price target on Infinera to $10.00 and set a neutral rating on the stock in a research note on Tuesday, July 24th. Rosenblatt Securities set a $13.00 price target on Infinera and gave the stock a buy rating in a research note on Tuesday, July 24th. Raymond James downgraded Infinera from a market perform rating to an underperform rating in a research note on Tuesday, July 24th. Finally, Jefferies Financial Group reaffirmed a sell rating and set a $8.00 price target on shares of Infinera in a research note on Tuesday, July 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Infinera has an average rating of Hold and a consensus price target of $9.50.

Shares of INFN opened at $6.23 on Wednesday. The company has a market cap of $934.77 million, a price-to-earnings ratio of -7.51 and a beta of 0.52. Infinera has a 52 week low of $5.24 and a 52 week high of $12.39.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, November 6th. The communications equipment provider reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.41 million during the quarter, compared to analyst estimates of $210.57 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) EPS. On average, sell-side analysts predict that Infinera will post -0.56 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/11/07/infinera-infn-updates-q4-earnings-guidance.html.

About Infinera

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.

See Also: What is the balance sheet?

Earnings History and Estimates for Infinera (NASDAQ:INFN)

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply