Wall Street analysts expect Harmonic Inc (NASDAQ:HLIT) to post earnings of $0.22 per share for the current quarter, according to Zacks. Four analysts have made estimates for Harmonic’s earnings, with estimates ranging from $0.21 to $0.22. Harmonic posted earnings per share of $0.04 in the same quarter last year, which suggests a positive year-over-year growth rate of 450%. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, October 28th.
According to Zacks, analysts expect that Harmonic will report full year earnings of $0.18 per share for the current year, with EPS estimates ranging from $0.16 to $0.19. For the next financial year, analysts expect that the firm will report earnings of $0.29 per share, with EPS estimates ranging from $0.20 to $0.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Harmonic.
Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, July 29th. The communications equipment provider reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. Harmonic had a negative return on equity of 3.72% and a negative net margin of 7.27%. The company had revenue of $84.87 million during the quarter, compared to analysts’ expectations of $85.07 million. During the same quarter in the previous year, the business earned $0.05 EPS. The firm’s revenue was down 14.4% on a year-over-year basis.
A number of brokerages have recently issued reports on HLIT. Stifel Nicolaus boosted their target price on Harmonic from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. BidaskClub cut Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Harmonic in a report on Friday, October 4th. ValuEngine cut Harmonic from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $9.00.
Shares of NASDAQ:HLIT traded up $0.05 during trading on Monday, reaching $6.59. 276,481 shares of the stock were exchanged, compared to its average volume of 604,513. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.14 and a current ratio of 1.34. Harmonic has a 12-month low of $4.48 and a 12-month high of $8.09. The firm has a market cap of $586.05 million, a price-to-earnings ratio of 219.67, a price-to-earnings-growth ratio of 10.24 and a beta of 0.87. The firm’s 50-day moving average price is $6.51 and its 200 day moving average price is $6.25.
In other news, SVP Neven Haltmayer sold 90,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $7.24, for a total transaction of $651,600.00. Following the completion of the sale, the senior vice president now owns 159,813 shares in the company, valued at approximately $1,157,046.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Aperio Group LLC acquired a new position in Harmonic during the 2nd quarter worth approximately $29,000. Quantamental Technologies LLC acquired a new position in Harmonic during the 2nd quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its position in Harmonic by 562.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,444 shares of the communications equipment provider’s stock worth $47,000 after acquiring an additional 7,170 shares in the last quarter. Bank of Montreal Can lifted its position in Harmonic by 308,766.7% during the 2nd quarter. Bank of Montreal Can now owns 9,266 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 9,263 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in Harmonic during the 2nd quarter worth approximately $77,000. Institutional investors and hedge funds own 89.99% of the company’s stock.
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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