-$0.05 EPS Expected for Harmonic Inc (NASDAQ:HLIT) This Quarter

Wall Street analysts expect Harmonic Inc (NASDAQ:HLIT) to announce earnings of ($0.05) per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Harmonic’s earnings. The lowest EPS estimate is ($0.07) and the highest is ($0.03). Harmonic also reported earnings per share of ($0.05) during the same quarter last year. The company is expected to issue its next earnings results on Monday, May 4th.

According to Zacks, analysts expect that Harmonic will report full-year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.24. For the next financial year, analysts expect that the company will post earnings of $0.36 per share, with EPS estimates ranging from $0.25 to $0.51. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Harmonic.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, February 3rd. The communications equipment provider reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The firm had revenue of $122.18 million for the quarter, compared to the consensus estimate of $113.07 million. Harmonic had a positive return on equity of 7.34% and a negative net margin of 1.47%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

HLIT has been the subject of a number of analyst reports. ValuEngine cut Harmonic from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. BidaskClub upgraded Harmonic from a “strong sell” rating to a “sell” rating in a research note on Friday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Harmonic in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.00.

In other news, CEO Patrick Harshman sold 52,821 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $7.02, for a total value of $370,803.42. Following the transaction, the chief executive officer now owns 977,230 shares in the company, valued at $6,860,154.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in Harmonic by 6.3% during the third quarter. State Street Corp now owns 2,529,165 shares of the communications equipment provider’s stock worth $16,642,000 after buying an additional 148,890 shares in the last quarter. Geode Capital Management LLC lifted its position in Harmonic by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,227,118 shares of the communications equipment provider’s stock worth $9,571,000 after buying an additional 41,077 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Harmonic by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,104,681 shares of the communications equipment provider’s stock worth $8,616,000 after buying an additional 3,289 shares in the last quarter. Voya Investment Management LLC lifted its position in Harmonic by 2,003.7% during the third quarter. Voya Investment Management LLC now owns 785,237 shares of the communications equipment provider’s stock worth $5,168,000 after buying an additional 747,910 shares in the last quarter. Finally, Kennedy Capital Management Inc. lifted its position in Harmonic by 41.3% during the fourth quarter. Kennedy Capital Management Inc. now owns 757,333 shares of the communications equipment provider’s stock worth $5,907,000 after buying an additional 221,424 shares in the last quarter. Hedge funds and other institutional investors own 86.96% of the company’s stock.

Harmonic stock traded up $0.62 during mid-day trading on Friday, hitting $6.09. The company’s stock had a trading volume of 1,209,677 shares, compared to its average volume of 857,881. Harmonic has a one year low of $4.44 and a one year high of $8.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.31. The company has a 50 day moving average of $6.06 and a 200-day moving average of $7.09. The stock has a market cap of $526.45 million, a PE ratio of -76.13, a P/E/G ratio of 36.60 and a beta of 1.03.

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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