Infinera (INFN) Announces Quarterly Earnings Results

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Infinera (NASDAQ:INFN) issued its quarterly earnings data on Tuesday. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04), RTT News reports. Infinera had a negative net margin of 19.95% and a negative return on equity of 13.09%. The company had revenue of $200.41 million during the quarter, compared to the consensus estimate of $210.57 million. During the same quarter last year, the company earned ($0.11) earnings per share. Infinera’s revenue for the quarter was up 4.1% on a year-over-year basis. Infinera updated its Q4 2018 guidance to $-0.3–0.26 EPS and its Q4 guidance to ($0.30-0.26) EPS.

Shares of Infinera stock traded down $0.04 on Tuesday, hitting $6.23. 3,296,359 shares of the company’s stock traded hands, compared to its average volume of 1,973,326. The stock has a market cap of $934.77 million, a P/E ratio of -7.51 and a beta of 0.52. Infinera has a 52-week low of $5.24 and a 52-week high of $12.39.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Tuesday. B. Riley lowered their price objective on shares of Infinera from $9.50 to $6.50 and set a “neutral” rating for the company in a research report on Monday. BidaskClub raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Stifel Nicolaus assumed coverage on shares of Infinera in a research report on Monday, October 22nd. They issued a “hold” rating and a $8.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $10.47.

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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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Earnings History for Infinera (NASDAQ:INFN)

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