Harmonic (NASDAQ:HLIT – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.51-0.71 for the period, compared to the consensus earnings per share estimate of $0.56. The company issued revenue guidance of $645-695 million, compared to the consensus revenue estimate of $666.65 million. Harmonic also updated its Q2 guidance to $0.00-0.05 EPS.
Harmonic Trading Up 2.2 %
NASDAQ HLIT traded up $0.20 during trading on Monday, hitting $9.40. 2,336,639 shares of the company’s stock traded hands, compared to its average volume of 2,027,902. The firm has a market cap of $1.05 billion, a P/E ratio of 13.34 and a beta of 0.84. The stock has a fifty day moving average of $12.25 and a two-hundred day moving average of $11.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91. Harmonic has a 12-month low of $8.80 and a 12-month high of $18.43.
Harmonic (NASDAQ:HLIT – Get Free Report) last issued its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. Harmonic’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS. As a group, sell-side analysts expect that Harmonic will post 0.32 EPS for the current year.
Analyst Upgrades and Downgrades
View Our Latest Research Report on Harmonic
Insider Buying and Selling at Harmonic
In other news, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total transaction of $285,968.10. Following the completion of the transaction, the senior vice president now directly owns 181,864 shares in the company, valued at $2,105,985.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Harmonic news, SVP Nimrod Ben-Natan sold 100,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the transaction, the senior vice president now owns 302,214 shares in the company, valued at approximately $3,901,582.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total transaction of $285,968.10. Following the completion of the sale, the senior vice president now owns 181,864 shares in the company, valued at approximately $2,105,985.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,000 shares of company stock valued at $1,917,122. Corporate insiders own 2.20% of the company’s stock.
About Harmonic
Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.
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