Brokerages expect Harmonic Inc (NASDAQ:HLIT) to post earnings of $0.08 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Harmonic’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.08. Harmonic posted earnings per share of $0.11 during the same quarter last year, which would suggest a negative year over year growth rate of 27.3%. The business is scheduled to announce its next earnings report on Monday, February 3rd.
According to Zacks, analysts expect that Harmonic will report full year earnings of $0.24 per share for the current fiscal year, with EPS estimates ranging from $0.24 to $0.25. For the next fiscal year, analysts expect that the company will report earnings of $0.30 per share, with EPS estimates ranging from $0.25 to $0.40. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Harmonic.
Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Harmonic had a negative net margin of 2.07% and a positive return on equity of 6.36%. The business had revenue of $115.73 million during the quarter, compared to the consensus estimate of $114.88 million.
A number of brokerages have issued reports on HLIT. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Harmonic in a research report on Tuesday, November 12th. BidaskClub cut Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. ValuEngine downgraded Harmonic from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research lowered Harmonic from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Northland Securities reissued a “buy” rating and issued a $9.00 price target on shares of Harmonic in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $9.00.
NASDAQ:HLIT opened at $8.13 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. Harmonic has a 52 week low of $4.48 and a 52 week high of $8.37. The stock’s 50-day moving average price is $7.50 and its 200-day moving average price is $6.67. The stock has a market capitalization of $746.23 million, a PE ratio of 271.00, a price-to-earnings-growth ratio of 7.15 and a beta of 0.90.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HLIT. Metropolitan Life Insurance Co NY lifted its position in shares of Harmonic by 7.7% during the third quarter. Metropolitan Life Insurance Co NY now owns 25,957 shares of the communications equipment provider’s stock worth $171,000 after purchasing an additional 1,855 shares in the last quarter. Millennium Management LLC raised its stake in Harmonic by 751.0% during the third quarter. Millennium Management LLC now owns 442,499 shares of the communications equipment provider’s stock worth $2,911,000 after purchasing an additional 390,499 shares during the period. Barclays PLC raised its stake in Harmonic by 74.1% during the third quarter. Barclays PLC now owns 176,299 shares of the communications equipment provider’s stock worth $1,160,000 after purchasing an additional 75,008 shares during the period. Point72 Asset Management L.P. acquired a new position in Harmonic in the 3rd quarter valued at about $199,000. Finally, California State Teachers Retirement System lifted its holdings in Harmonic by 1.2% in the third quarter. California State Teachers Retirement System now owns 134,242 shares of the communications equipment provider’s stock valued at $883,000 after acquiring an additional 1,604 shares during the last quarter. Hedge funds and other institutional investors own 91.74% of the company’s stock.
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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