Harmonic Inc (HLIT) Expected to Post Quarterly Sales of $85.03 Million

Equities research analysts predict that Harmonic Inc (NASDAQ:HLIT) will post $85.03 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Harmonic’s earnings, with estimates ranging from $84.20 million to $85.50 million. Harmonic reported sales of $90.13 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5.7%. The business is scheduled to report its next earnings results on Monday, April 29th.

According to Zacks, analysts expect that Harmonic will report full year sales of $410.63 million for the current financial year, with estimates ranging from $405.00 million to $418.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $457.10 million, with estimates ranging from $454.80 million to $459.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Harmonic.

Harmonic (NASDAQ:HLIT) last announced its earnings results on Monday, February 4th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The business had revenue of $113.60 million for the quarter, compared to analyst estimates of $113.13 million. Harmonic had a negative net margin of 5.21% and a negative return on equity of 0.08%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis.

HLIT has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Stifel Nicolaus assumed coverage on shares of Harmonic in a research note on Wednesday, February 20th. They set a “buy” rating and a $7.00 target price on the stock. ValuEngine downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. BidaskClub downgraded shares of Harmonic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 8th. Finally, Needham & Company LLC assumed coverage on shares of Harmonic in a research note on Wednesday, February 13th. They set a “buy” rating and a $7.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $7.05.

In other news, Director Susan Swenson sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $5.18, for a total value of $155,400.00. Following the sale, the director now directly owns 152,444 shares of the company’s stock, valued at approximately $789,659.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Harmonic in the 4th quarter valued at $32,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Harmonic in the 4th quarter valued at $33,000. LS Investment Advisors LLC boosted its holdings in shares of Harmonic by 493.6% in the 4th quarter. LS Investment Advisors LLC now owns 13,048 shares of the communications equipment provider’s stock valued at $62,000 after buying an additional 10,850 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Harmonic by 11.3% in the 4th quarter. SG Americas Securities LLC now owns 19,690 shares of the communications equipment provider’s stock valued at $93,000 after buying an additional 1,993 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Harmonic by 293.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 24,239 shares of the communications equipment provider’s stock valued at $114,000 after buying an additional 18,086 shares in the last quarter. Institutional investors own 87.10% of the company’s stock.

HLIT traded up $0.09 on Friday, reaching $5.61. 238,711 shares of the company’s stock were exchanged, compared to its average volume of 412,255. The firm has a market capitalization of $481.19 million, a PE ratio of 187.00 and a beta of 0.85. Harmonic has a twelve month low of $3.35 and a twelve month high of $6.32. The company has a current ratio of 1.44, a quick ratio of 1.25 and a debt-to-equity ratio of 0.56.

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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Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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