Shares of Infinera Corp. (NASDAQ:INFN) have earned a consensus rating of “Hold” from the fourteen analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $7.05.
A number of equities analysts have weighed in on the company. Goldman Sachs Group raised Infinera from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. MKM Partners raised their price objective on shares of Infinera from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Infinera in a research note on Monday, September 30th. Raymond James upgraded shares of Infinera from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. Finally, Zacks Investment Research cut shares of Infinera from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th.
Large investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in Infinera in the 3rd quarter valued at about $55,000. Point72 Asset Management L.P. acquired a new stake in shares of Infinera during the third quarter valued at about $56,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Infinera by 95.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,010 shares of the communications equipment provider’s stock valued at $66,000 after acquiring an additional 10,733 shares during the last quarter. US Bancorp DE raised its stake in shares of Infinera by 20.1% in the 2nd quarter. US Bancorp DE now owns 24,211 shares of the communications equipment provider’s stock valued at $70,000 after acquiring an additional 4,051 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Infinera in the 2nd quarter valued at approximately $76,000. 84.41% of the stock is owned by hedge funds and other institutional investors.
INFN stock traded down $0.13 during mid-day trading on Monday, reaching $5.93. The company’s stock had a trading volume of 42,856 shares, compared to its average volume of 2,588,458. The stock has a market cap of $1.10 billion, a PE ratio of -9.30 and a beta of 0.60. The company has a current ratio of 1.47, a quick ratio of 0.89 and a debt-to-equity ratio of 0.90. Infinera has a fifty-two week low of $2.80 and a fifty-two week high of $6.84. The company’s 50 day moving average is $5.90 and its two-hundred day moving average is $4.54.
Infinera (NASDAQ:INFN) last issued its earnings results on Tuesday, November 12th. The communications equipment provider reported ($0.17) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). The business had revenue of $325.34 million for the quarter, compared to analysts’ expectations of $327.09 million. Infinera had a negative return on equity of 34.56% and a negative net margin of 36.15%. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 62.3% compared to the same quarter last year. On average, analysts forecast that Infinera will post -0.9 earnings per share for the current fiscal year.
Infinera Corporation provides optical transport networking 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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