Infinera Corporation (INFN) Updates Q4 Earnings Guidance
Infinera Corporation (NASDAQ:INFN) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of ($0.16-0.12) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.10). The company issued revenue guidance of $185-195 million, compared to the consensus revenue estimate of $203.83 million.
A number of brokerages have recently weighed in on INFN. William Blair restated a buy rating on shares of Infinera Corporation in a research report on Thursday. Nomura cut their price objective on Infinera Corporation from $13.00 to $11.00 and set a buy rating for the company in a research report on Thursday. Craig Hallum restated a buy rating and set a $10.00 price objective (down previously from $15.00) on shares of Infinera Corporation in a research report on Thursday. MKM Partners lowered Infinera Corporation from a buy rating to a neutral rating and set a $13.00 price objective for the company. in a research report on Thursday. Finally, Stifel Nicolaus restated a hold rating and set a $9.00 price objective (down previously from $10.00) on shares of Infinera Corporation in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $11.08.
Shares of Infinera Corporation (NASDAQ:INFN) opened at $6.37 on Friday. Infinera Corporation has a 12 month low of $6.34 and a 12 month high of $12.50.
Infinera Corporation (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.12. The business had revenue of $192.60 million during the quarter, compared to the consensus estimate of $190.37 million. Infinera Corporation had a negative net margin of 21.59% and a negative return on equity of 16.25%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) earnings per share. equities research analysts predict that Infinera Corporation will post -0.85 earnings per share for the current fiscal year.
In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by company insiders.
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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