Wall Street brokerages expect Infinera Corp. (NASDAQ:INFN) to post $209.71 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Infinera’s earnings, with estimates ranging from $204.40 million to $211.59 million. Infinera posted sales of $192.58 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The company is expected to report its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Infinera will report full year sales of $834.37 million for the current year, with estimates ranging from $816.00 million to $840.90 million. For the next financial year, analysts expect that the firm will report sales of $892.99 million per share, with estimates ranging from $865.30 million to $930.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Infinera.
Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. The business had revenue of $208.23 million for the quarter, compared to the consensus estimate of $208.96 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share.
Several equities research analysts have issued reports on INFN shares. ValuEngine upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Zacks Investment Research downgraded Infinera from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. B. Riley dropped their target price on Infinera from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 8th. BidaskClub downgraded Infinera from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 18th. Finally, MKM Partners dropped their target price on Infinera to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 24th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Infinera has an average rating of “Hold” and an average price target of $10.97.
Infinera stock traded up $0.09 during trading on Friday, hitting $8.87. The stock had a trading volume of 117,996 shares, compared to its average volume of 2,675,641. Infinera has a 1 year low of $6.10 and a 1 year high of $12.39. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -10.69 and a beta of 0.25.
Several large investors have recently bought and sold shares of the business. Legal & General Group Plc increased its holdings in shares of Infinera by 21.1% in the first quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock worth $753,000 after purchasing an additional 12,098 shares during the period. Comerica Bank bought a new position in shares of Infinera in the first quarter worth $876,000. MetLife Investment Advisors LLC bought a new position in shares of Infinera in the fourth quarter worth $422,000. Fisher Asset Management LLC increased its holdings in shares of Infinera by 0.6% in the second quarter. Fisher Asset Management LLC now owns 5,966,448 shares of the communications equipment provider’s stock worth $59,247,000 after purchasing an additional 37,172 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Infinera in the first quarter worth $482,000. Hedge funds and other institutional investors own 83.45% of the company’s stock.
Infinera Company Profile
Infinera Corporation provides optical transport networking solutions, 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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