Zacks: Analysts Anticipate Infinera Corporation (INFN) Will Post Quarterly Sales of $190.30 Million
Equities research analysts expect that Infinera Corporation (NASDAQ:INFN) will post sales of $190.30 million for the current quarter, according to Zacks. Eight analysts have issued estimates for Infinera Corporation’s earnings, with the highest sales estimate coming in at $191.50 million and the lowest estimate coming in at $189.76 million. Infinera Corporation reported sales of $185.45 million during the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Infinera Corporation will report full-year sales of $190.30 million for the current financial year, with estimates ranging from $738.11 million to $752.80 million. For the next fiscal year, analysts expect that the firm will post sales of $861.71 million per share, with estimates ranging from $798.67 million to $898.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Infinera Corporation.
Infinera Corporation (NASDAQ:INFN) last announced its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.39%. The firm had revenue of $176.28 million for the quarter, compared to the consensus estimate of $181.16 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s quarterly revenue was down 31.9% compared to the same quarter last year.
A number of research firms have recently weighed in on INFN. Citigroup Inc. boosted their target price on Infinera Corporation from $8.50 to $10.00 and gave the stock a “sell” rating in a research report on Friday, July 21st. Stifel Nicolaus restated a “hold” rating and set a $10.00 target price on shares of Infinera Corporation in a research report on Friday, July 21st. MKM Partners reaffirmed a “buy” rating and set a $14.00 price objective on shares of Infinera Corporation in a research note on Friday, July 21st. Needham & Company LLC lifted their price objective on Infinera Corporation from $13.50 to $14.50 and gave the stock a “strong-buy” rating in a research note on Monday, June 19th. Finally, B. Riley reaffirmed a “buy” rating and set a $14.00 price objective on shares of Infinera Corporation in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $11.82.
Shares of Infinera Corporation (NASDAQ INFN) traded down 1.311% on Wednesday, reaching $8.655. The company had a trading volume of 489,251 shares. The company has a 50-day moving average price of $8.56 and a 200-day moving average price of $9.89. The firm’s market cap is $1.28 billion. Infinera Corporation has a one year low of $7.23 and a one year high of $12.50.
In other Infinera Corporation news, 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 value of $60,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President David F. Welch sold 20,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total value of $180,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,000 shares of company stock valued at $426,200. Insiders own 2.90% of the company’s stock.
Large investors have recently bought and sold shares of the business. US Bancorp DE grew its stake in Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after acquiring an additional 1,186 shares during the period. Fred Alger Management Inc. acquired a new position in Infinera Corporation in the second quarter valued at about $107,000. AlphaOne Investment Services LLC acquired a new position in Infinera Corporation in the second quarter valued at about $108,000. Summit Securities Group LLC acquired a new position in Infinera Corporation in the second quarter valued at about $109,000. Finally, Karp Capital Management Corp acquired a new position in Infinera Corporation in the first quarter valued at about $106,000. 86.67% of the stock is owned by hedge funds and other institutional investors.
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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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