Analysts expect that Infinera Corporation (NASDAQ:INFN) will post $190.85 million in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Infinera Corporation’s earnings, with the highest sales estimate coming in at $194.70 million and the lowest estimate coming in at $189.76 million. Infinera Corporation posted sales of $185.45 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 25th.

According to Zacks, analysts expect that Infinera Corporation will report full year sales of $190.85 million for the current year, with estimates ranging from $738.11 million to $765.20 million. For the next financial year, analysts forecast that the business will report sales of $862.74 million per share, with estimates ranging from $798.67 million to $907.30 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Infinera Corporation.

Infinera Corporation (NASDAQ:INFN) last issued its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The company had revenue of $176.28 million during the quarter, compared to the consensus estimate of $181.16 million. During the same quarter last year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was down 31.9% compared to the same quarter last year.

INFN has been the subject of several research analyst reports. ValuEngine upgraded Infinera Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Wells Fargo & Company upgraded Infinera Corporation from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $13.00 in a research report on Friday, May 26th. Northland Securities set a $7.00 target price on Infinera Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded Infinera Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Deutsche Bank AG decreased their target price on Infinera Corporation from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $11.82.

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Infinera Corporation (NASDAQ INFN) opened at 8.41 on Friday. The company’s market capitalization is $1.25 billion. Infinera Corporation has a one year low of $7.23 and a one year high of $12.50. The firm has a 50-day moving average of $8.84 and a 200 day moving average of $10.10.

In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total value of $185,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President David F. Welch sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas grew its stake in shares of Infinera Corporation by 3.6% during the second quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 409 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in Infinera Corporation by 2.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 16,714 shares of the communications equipment provider’s stock valued at $178,000 after buying an additional 469 shares during the last quarter. Prudential Financial Inc. boosted its position in Infinera Corporation by 4.9% in the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after buying an additional 710 shares during the last quarter. Legal & General Group Plc boosted its position in Infinera Corporation by 1.8% in the second quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock valued at $591,000 after buying an additional 972 shares during the last quarter. Finally, Amalgamated Bank boosted its position in Infinera Corporation by 5.7% in the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock valued at $196,000 after buying an additional 992 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

About Infinera Corporation

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

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Earnings History and Estimates for Infinera Corporation (NASDAQ:INFN)

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