Brokerages Anticipate Infinera Corp. (INFN) to Post -$0.13 Earnings Per Share

Wall Street brokerages expect that Infinera Corp. (NASDAQ:INFN) will report ($0.13) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Infinera’s earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at ($0.12). Infinera reported earnings per share of ($0.12) in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.3%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, February 7th.

On average, analysts expect that Infinera will report full-year earnings of ($0.55) per share for the current financial year, with EPS estimates ranging from ($0.56) to ($0.53). For the next financial year, analysts anticipate that the business will post earnings of ($0.21) per share, with EPS estimates ranging from ($0.29) to ($0.10). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Infinera.

Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.12. Infinera had a negative return on equity of 16.35% and a negative net margin of 21.59%. The company had revenue of $192.60 million for the quarter, compared to analyst estimates of $190.37 million. During the same quarter last year, the company earned ($0.15) earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis.

INFN has been the topic of a number of recent research reports. Zacks Investment Research upgraded Infinera from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. William Blair restated a “buy” rating on shares of Infinera in a report on Thursday, November 9th. BidaskClub upgraded Infinera from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. ValuEngine lowered Infinera from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Finally, Craig Hallum reiterated a “buy” rating and set a $10.00 price target (down from $15.00) on shares of Infinera in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.09.

Infinera (NASDAQ:INFN) traded down $0.04 during mid-day trading on Monday, hitting $6.75. The stock had a trading volume of 1,399,000 shares, compared to its average volume of 1,250,285. Infinera has a 52 week low of $6.27 and a 52 week high of $12.50. The company has a market capitalization of $1,010.00, a price-to-earnings ratio of -6.31 and a beta of 1.43.

In other news, CEO Thomas J. Fallon bought 100,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $6.33 per share, with a total value of $633,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Fred Alger Management Inc. purchased a new stake in Infinera in the second quarter worth $107,000. Prudential Financial Inc. grew its position in shares of Infinera 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 purchasing an additional 710 shares in the last quarter. Aperio Group LLC grew its position in shares of Infinera by 87.6% in the third quarter. Aperio Group LLC now owns 18,948 shares of the communications equipment provider’s stock valued at $168,000 after purchasing an additional 8,847 shares in the last quarter. Amalgamated Bank grew its position in shares of Infinera 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 purchasing an additional 992 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in shares of Infinera by 521.5% in the second quarter. BNP Paribas Arbitrage SA now owns 18,546 shares of the communications equipment provider’s stock valued at $198,000 after purchasing an additional 15,562 shares in the last quarter. 90.57% of the stock is owned by institutional investors and hedge funds.

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Infinera 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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