$0.08 Earnings Per Share Expected for Harmonic Inc (NASDAQ:HLIT) This Quarter

Equities analysts predict that Harmonic Inc (NASDAQ:HLIT) will report $0.08 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Harmonic’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at $0.07. Harmonic posted earnings per share of $0.11 during the same quarter last year, which would suggest a negative year-over-year growth rate of 27.3%. The company is expected to announce its next quarterly earnings report on Monday, February 3rd.

According to Zacks, analysts expect that Harmonic will report full-year earnings of $0.24 per share for the current year, with EPS estimates ranging from $0.24 to $0.25. For the next year, analysts anticipate that the firm will report earnings of $0.30 per share, with EPS estimates ranging from $0.25 to $0.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Harmonic.

HLIT has been the subject of several recent analyst reports. Northland Securities reissued a “buy” rating and set a $9.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. Zacks Investment Research lowered Harmonic from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. ValuEngine lowered Harmonic from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, BidaskClub lowered Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $9.00.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Shares of NASDAQ HLIT traded up $0.06 during mid-day trading on Tuesday, reaching $8.02. 767,300 shares of the company’s stock were exchanged, compared to its average volume of 621,329. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 1.42. The firm has a market capitalization of $715.08 million, a price-to-earnings ratio of 267.33, a price-to-earnings-growth ratio of 7.60 and a beta of 0.89. Harmonic has a 52 week low of $4.48 and a 52 week high of $8.11. The firm has a 50-day moving average price of $6.73 and a two-hundred day moving average price of $6.40.

Several hedge funds and other institutional investors have recently modified their holdings of HLIT. Scopia Capital Management LP boosted its stake in Harmonic by 111.7% in the second quarter. Scopia Capital Management LP now owns 6,092,937 shares of the communications equipment provider’s stock worth $33,816,000 after buying an additional 3,215,344 shares in the last quarter. Systematic Financial Management LP purchased a new stake in Harmonic in the third quarter worth approximately $6,745,000. Nuveen Asset Management LLC purchased a new stake in Harmonic in the second quarter worth approximately $3,720,000. BlackRock Inc. boosted its stake in Harmonic by 4.6% in the second quarter. BlackRock Inc. now owns 13,242,787 shares of the communications equipment provider’s stock worth $73,497,000 after buying an additional 584,615 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Harmonic in the third quarter worth approximately $1,971,000. 90.25% of the stock is owned by institutional investors.

About Harmonic

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.

Read More: How analysts view the yield curve

Get a free copy of the Zacks research report on Harmonic (HLIT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

Leave a Reply

Your email address will not be published. Required fields are marked *

*