Infinera Corp. (INFN) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Infinera Corp. (NASDAQ:INFN) issued its quarterly earnings data on Wednesday. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.02, StockRatingsNetwork reports. The company had revenue of $139.10 million for the quarter, compared to the consensus estimate of $136.21 million. During the same quarter last year, the company posted ($0.05) earnings per share. Infinera Corp.’s revenue was up 8.6% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at MKM Partners cut their price target on shares of Infinera Corp. from $14.00 to $10.00 in a research note to investors on Wednesday, January 22nd. They now have a “buy” rating on the stock. Analysts at FBR Capital Markets initiated coverage on shares of Infinera Corp. in a research note to investors on Thursday, December 19th. They set an “outperform” rating and a $12.50 price target on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $12.18.
Shares of Infinera Corp. (NASDAQ:INFN) traded up 29.04% on Thursday, hitting $9.11. The stock had a trading volume of 10,075,108 shares. Infinera Corp. has a 52-week low of $6.06 and a 52-week high of $12.16. The stock has a 50-day moving average of $8.95 and a 200-day moving average of $10.14. The company’s market cap is $1.089 billion.
Infinera Corporation (NASDAQ:INFN) provides optical networking equipment, software and services to communications service providers, Internet content providers, cable operators and subsea network operators (collectively, Service Providers) across the globe.
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