Infinera (NASDAQ:INFN) updated its first quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $-0.29–0.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.19. The company issued revenue guidance of $300-320 million, compared to the consensus revenue estimate of $327.53 million.
Several brokerages have recently commented on INFN. Zacks Investment Research upgraded shares of Infinera from a sell rating to a hold rating in a research report on Wednesday, November 21st. Piper Jaffray Companies lowered their price target on shares of Infinera to $6.50 and set a neutral rating for the company in a research report on Wednesday, November 7th. ValuEngine upgraded shares of Infinera from a hold rating to a buy rating in a research report on Monday, November 12th. Rosenblatt Securities cut shares of Infinera to a hold rating in a research report on Thursday, November 8th. Finally, B. Riley lowered their price target on shares of Infinera from $6.50 to $5.50 and set a neutral rating for the company in a research report on Monday, November 5th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Infinera presently has an average rating of Hold and an average target price of $8.80.
Infinera stock opened at $4.85 on Friday. Infinera has a fifty-two week low of $3.54 and a fifty-two week high of $12.39. The company has a market cap of $857.43 million, a P/E ratio of -5.84 and a beta of 0.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 3.92.
In other news, VP Robert J. Jandro acquired 40,000 shares of Infinera stock in a transaction that occurred on Friday, November 30th. The shares were acquired at an average price of $4.24 per share, with a total value of $169,600.00. Following the purchase, the vice president now directly owns 179,061 shares of the company’s stock, valued at $759,218.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by company insiders.
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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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