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.
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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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