-$0.16 EPS Expected for Infinera Corporation (INFN) This Quarter
Wall Street brokerages expect that Infinera Corporation (NASDAQ:INFN) will post earnings per share (EPS) of ($0.16) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Infinera Corporation’s earnings. The lowest EPS estimate is ($0.16) and the highest is ($0.15). Infinera Corporation reported earnings per share of $0.05 during the same quarter last year, which would suggest a negative year-over-year growth rate of 420%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, November 8th.
On average, analysts expect that Infinera Corporation will report full-year earnings of ($0.56) per share for the current financial year, with EPS estimates ranging from ($0.59) to ($0.52). For the next year, analysts expect that the firm will post earnings of ($0.08) per share, with EPS estimates ranging from ($0.32) to $0.10. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover Infinera Corporation.
Infinera Corporation (NASDAQ:INFN) last issued its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $181.16 million. During the same period last year, the firm earned $0.21 earnings per share. Infinera Corporation’s revenue for the quarter was down 31.9% on a year-over-year basis.
A number of research analysts have issued reports on the stock. MKM Partners restated a “buy” rating and issued a $14.00 target price on shares of Infinera Corporation in a report on Friday, July 21st. Craig Hallum assumed coverage on shares of Infinera Corporation in a report on Tuesday, July 18th. They issued a “buy” rating and a $15.00 target price on the stock. Deutsche Bank AG restated a “buy” rating and issued a $12.50 target price (up from $12.00) on shares of Infinera Corporation in a report on Monday, July 17th. B. Riley restated a “buy” rating and issued a $14.00 target price on shares of Infinera Corporation in a report on Friday, August 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Infinera Corporation in a report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $11.82.
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Infinera Corporation (NASDAQ:INFN) opened at 8.44 on Friday. Infinera Corporation has a 52 week low of $7.23 and a 52 week high of $12.50. The firm’s 50-day moving average is $8.56 and its 200-day moving average is $9.76. The stock’s market capitalization is $1.25 billion.
In other news, President David F. Welch sold 20,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total transaction of $180,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in INFN. UBS Asset Management Americas Inc. lifted its holdings in shares of Infinera Corporation by 42.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 71,753 shares of the communications equipment provider’s stock worth $734,000 after acquiring an additional 21,217 shares during the period. Karp Capital Management Corp purchased a new position in shares of Infinera Corporation during the 1st quarter worth about $106,000. Ameriprise Financial Inc. lifted its holdings in shares of Infinera Corporation by 16.5% during the 1st quarter. Ameriprise Financial Inc. now owns 237,392 shares of the communications equipment provider’s stock worth $2,429,000 after acquiring an additional 33,678 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Infinera Corporation by 56.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 205,790 shares of the communications equipment provider’s stock worth $2,105,000 after acquiring an additional 74,529 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Infinera Corporation by 65.6% during the 1st quarter. Stifel Financial Corp now owns 17,432 shares of the communications equipment provider’s stock worth $178,000 after acquiring an additional 6,905 shares during the period. Institutional investors and hedge funds own 87.56% of the company’s stock.
Infinera Corporation Company Profile
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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