Analysts expect that Harmonic Inc (NASDAQ:HLIT) will post earnings per share of ($0.07) for the current quarter, Zacks reports. Four analysts have provided estimates for Harmonic’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at ($0.05). Harmonic posted earnings of $0.05 per share during the same quarter last year, which would suggest a negative year over year growth rate of 240%. The firm is expected to issue its next earnings report after the market closes on Monday, July 29th.
According to Zacks, analysts expect that Harmonic will report full-year earnings of $0.07 per share for the current fiscal year, with EPS estimates ranging from $0.03 to $0.11. For the next financial year, analysts forecast that the firm will report earnings of $0.29 per share, with EPS estimates ranging from $0.20 to $0.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Harmonic.
Harmonic (NASDAQ:HLIT) last announced its quarterly earnings results on Monday, April 29th. The communications equipment provider reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. Harmonic had a negative net margin of 4.74% and a negative return on equity of 0.08%. The business had revenue of $80.10 million for the quarter, compared to analyst estimates of $85.52 million. During the same quarter in the prior year, the business earned ($0.01) EPS. Harmonic’s quarterly revenue was down 11.1% on a year-over-year basis.
A number of research analysts have issued reports on the stock. Raymond James restated a “hold” rating on shares of Broadcom in a research report on Friday, June 14th. Northland Securities upgraded shares of Akoustis Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 10th. ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. BidaskClub lowered shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 13th. Finally, Stifel Nicolaus increased their target price on shares of Harmonic from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Harmonic presently has an average rating of “Buy” and an average target price of $7.54.
Several large investors have recently made changes to their positions in HLIT. BlackRock Inc. increased its position in shares of Harmonic by 2.4% during the fourth quarter. BlackRock Inc. now owns 12,518,886 shares of the communications equipment provider’s stock worth $59,090,000 after buying an additional 291,645 shares during the period. FMR LLC lifted its holdings in Harmonic by 270.6% during the 1st quarter. FMR LLC now owns 290,357 shares of the communications equipment provider’s stock valued at $1,574,000 after buying an additional 212,010 shares in the last quarter. Boston Advisors LLC lifted its holdings in Harmonic by 51.2% during the 1st quarter. Boston Advisors LLC now owns 371,104 shares of the communications equipment provider’s stock valued at $2,011,000 after buying an additional 125,660 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Harmonic by 12.6% during the 4th quarter. Geode Capital Management LLC now owns 993,588 shares of the communications equipment provider’s stock valued at $4,689,000 after buying an additional 111,561 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Harmonic by 36.7% during the 1st quarter. Victory Capital Management Inc. now owns 376,980 shares of the communications equipment provider’s stock valued at $2,043,000 after buying an additional 101,180 shares in the last quarter. Hedge funds and other institutional investors own 88.72% of the company’s stock.
Shares of NASDAQ:HLIT traded up $0.03 on Monday, reaching $7.74. 533,434 shares of the company’s stock were exchanged, compared to its average volume of 553,861. The company’s fifty day moving average price is $6.12. Harmonic has a twelve month low of $4.25 and a twelve month high of $8.09. The firm has a market cap of $684.61 million, a P/E ratio of 258.00 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.35 and a debt-to-equity ratio of 0.58.
Harmonic Company Profile
Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.
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