Wall Street analysts expect that Harmonic Inc (NASDAQ:HLIT) will report earnings per share (EPS) of ($0.06) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Harmonic’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.03). Harmonic reported earnings per share of ($0.14) in the same quarter last year, which suggests a positive year-over-year growth rate of 57.1%. The company is scheduled to announce its next earnings results on Monday, May 7th.
According to Zacks, analysts expect that Harmonic will report full year earnings of $0.10 per share for the current financial year, with EPS estimates ranging from ($0.03) to $0.25. For the next financial year, analysts expect that the business will report earnings of $0.12 per share, with EPS estimates ranging from $0.08 to $0.15. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Harmonic.
Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Wednesday, February 28th. The communications equipment provider reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). The company had revenue of $100.97 million during the quarter, compared to the consensus estimate of $96.47 million. Harmonic had a negative net margin of 23.16% and a negative return on equity of 17.41%.
HLIT has been the subject of a number of analyst reports. BidaskClub upgraded Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded Harmonic from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research downgraded Harmonic from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Harmonic has a consensus rating of “Hold” and an average target price of $5.06.
In other news, insider Neven Haltmayer sold 10,198 shares of Harmonic stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $3.53, for a total transaction of $35,998.94. Following the completion of the transaction, the insider now directly owns 94,609 shares in the company, valued at approximately $333,969.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Kalra sold 10,455 shares of Harmonic stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $3.53, for a total value of $36,906.15. Following the transaction, the chief financial officer now owns 39,198 shares of the company’s stock, valued at $138,368.94. The disclosure for this sale can be found here. Insiders have sold a total of 56,234 shares of company stock valued at $198,506 over the last quarter. 5.53% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Harmonic by 1,620.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,971 shares of the communications equipment provider’s stock valued at $130,000 after purchasing an additional 29,171 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Harmonic by 41.0% in the third quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 14,536 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Harmonic by 193.7% in the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock worth $154,000 after acquiring an additional 24,244 shares during the last quarter. Spark Investment Management LLC acquired a new stake in shares of Harmonic in the fourth quarter worth approximately $161,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Harmonic in the third quarter worth approximately $190,000. Institutional investors own 91.77% of the company’s stock.
HLIT stock remained flat at $$3.85 during mid-day trading on Friday. 26,112 shares of the company were exchanged, compared to its average volume of 571,582. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 1.03. Harmonic has a one year low of $2.80 and a one year high of $6.05.
Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.
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