Harmonic Inc. (HLIT) Scheduled to Post Earnings on Monday
Harmonic Inc. (NASDAQ:HLIT) is scheduled to be posting its quarterly earnings results after the market closes on Monday, October 30th. Analysts expect Harmonic to post earnings of ($0.08) per share for the quarter. Harmonic has set its FY17 guidance at (0.50)-(0.33) EPS and its Q3 guidance at (0.03)-(0.11) EPS.
Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, July 31st. The communications equipment provider reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The company had revenue of $82.30 million during the quarter, compared to analyst estimates of $80.88 million. Harmonic had a negative return on equity of 13.22% and a negative net margin of 21.58%. The business’s quarterly revenue was down 24.9% on a year-over-year basis. On average, analysts expect Harmonic to post $-0.420 EPS for the current fiscal year and $0.100 EPS for the next fiscal year.
Harmonic Inc. (NASDAQ HLIT) traded up 0.85% during mid-day trading on Monday, reaching $2.95. The company’s stock had a trading volume of 162,878 shares. The firm’s market capitalization is $239.75 million. The company’s 50-day moving average price is $3.05 and its 200 day moving average price is $4.39. Harmonic Inc. has a 52 week low of $2.80 and a 52 week high of $6.18.
Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. TheStreet cut shares of Harmonic from a “c-” rating to a “d+” rating in a research report on Wednesday, August 9th. Northland Securities set a $6.00 price target on shares of Harmonic and gave the company a “buy” rating in a research report on Tuesday, October 17th. ValuEngine cut shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $4.00 price target (up previously from $3.50) on shares of Harmonic in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $5.25.
In related news, insider Patrick Harshman sold 7,979 shares of Harmonic stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $3.47, for a total transaction of $27,687.13. Following the sale, the insider now directly owns 570,733 shares in the company, valued at approximately $1,980,443.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.27% of the stock is owned by company insiders.
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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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