Analysts predict that Harmonic Inc. (NASDAQ:HLIT) will announce earnings per share of ($0.13) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Harmonic’s earnings, with the highest EPS estimate coming in at ($0.11) and the lowest estimate coming in at ($0.15). Harmonic reported earnings per share of ($0.04) in the same quarter last year, which suggests a negative year over year growth rate of 225%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 8th.

According to Zacks, analysts expect that Harmonic will report full year earnings of ($0.62) per share for the current financial year, with EPS estimates ranging from ($0.69) to ($0.58). For the next fiscal year, analysts forecast that the business will report earnings of ($0.23) per share, with EPS estimates ranging from ($0.42) to ($0.07). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Harmonic.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, July 31st. The communications equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.02. Harmonic had a negative return on equity of 13.22% and a negative net margin of 21.58%. The firm had revenue of $82.30 million for the quarter, compared to the consensus estimate of $80.88 million. The company’s quarterly revenue was down 24.9% on a year-over-year basis.

A number of analysts have weighed in on HLIT shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $4.00 target price (up previously from $3.50) on shares of Harmonic in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. TheStreet cut shares of Harmonic from a “c-” rating to a “d+” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of Harmonic from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, ValuEngine cut shares of Harmonic from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $5.44.

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Several institutional investors have recently modified their holdings of HLIT. State Street Corp raised its position in shares of Harmonic by 6.2% in the fourth quarter. State Street Corp now owns 1,790,466 shares of the communications equipment provider’s stock worth $8,954,000 after buying an additional 103,988 shares during the period. OppenheimerFunds Inc. raised its position in shares of Harmonic by 20.1% in the first quarter. OppenheimerFunds Inc. now owns 53,215 shares of the communications equipment provider’s stock worth $317,000 after buying an additional 8,912 shares during the period. Russell Investments Group Ltd. raised its position in shares of Harmonic by 69.2% in the first quarter. Russell Investments Group Ltd. now owns 780,775 shares of the communications equipment provider’s stock worth $4,645,000 after buying an additional 319,289 shares during the period. Mackenzie Financial Corp raised its position in shares of Harmonic by 18.4% in the first quarter. Mackenzie Financial Corp now owns 518,066 shares of the communications equipment provider’s stock worth $3,082,000 after buying an additional 80,515 shares during the period. Finally, Menta Capital LLC raised its position in shares of Harmonic by 17.2% in the first quarter. Menta Capital LLC now owns 164,311 shares of the communications equipment provider’s stock worth $978,000 after buying an additional 24,100 shares during the period. Institutional investors own 97.27% of the company’s stock.

Harmonic (NASDAQ:HLIT) traded up 2.86% on Tuesday, reaching $3.60. The company’s stock had a trading volume of 45,830 shares. Harmonic has a 12 month low of $3.50 and a 12 month high of $6.18. The firm’s 50 day moving average is $4.49 and its 200-day moving average is $5.23. The firm’s market cap is $292.58 million.

About Harmonic

Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.

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