Infinera Corp. (INFN) Expected to Announce Quarterly Sales of $189.84 Million

Analysts expect Infinera Corp. (NASDAQ:INFN) to announce sales of $189.84 million for the current quarter, according to Zacks. Seven analysts have made estimates for Infinera’s earnings, with the highest sales estimate coming in at $191.00 million and the lowest estimate coming in at $187.80 million. Infinera posted sales of $181.04 million during the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, February 7th.

According to Zacks, analysts expect that Infinera will report full-year sales of $189.84 million for the current financial year, with estimates ranging from $732.70 million to $739.90 million. For the next fiscal year, analysts anticipate that the company will post sales of $798.34 million per share, with estimates ranging from $774.20 million to $851.10 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Infinera.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates 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 had a negative return on equity of 16.35% and a negative net margin of 21.59%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) earnings per share.

A number of equities research analysts recently commented on INFN shares. Zacks Investment Research upgraded Infinera from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. William Blair reiterated 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 downgraded Infinera from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Finally, Craig Hallum reiterated a “buy” rating and issued a $10.00 price objective (down previously from $15.00) on shares of Infinera in a report on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $11.09.

Shares of Infinera (INFN) opened at $6.81 on Wednesday. The company has a market capitalization of $1,003.48, a PE ratio of -6.36 and a beta of 1.44. Infinera has a fifty-two week low of $6.27 and a fifty-two week high of $12.50.

In other Infinera news, CEO Thomas J. Fallon purchased 100,000 shares of the stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $6.33 per share, for a total transaction of $633,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Fred Alger Management Inc. bought a new stake in shares of Infinera in the second quarter worth about $107,000. Prudential Financial Inc. increased its holdings 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 worth $161,000 after acquiring an additional 710 shares in the last quarter. Aperio Group LLC increased its holdings 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 worth $168,000 after acquiring an additional 8,847 shares in the last quarter. Amalgamated Bank increased its holdings 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 worth $196,000 after acquiring an additional 992 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Infinera by 23.1% during the second quarter. D.A. Davidson & CO. now owns 20,013 shares of the communications equipment provider’s stock worth $213,000 after buying an additional 3,757 shares during the period. Institutional investors own 90.57% of the company’s stock.

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About Infinera

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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