Infinera Corp. (NASDAQ:INFN) – Equities research analysts at Jefferies Group issued their Q4 2019 earnings per share estimates for Infinera in a research report issued on Thursday. Jefferies Group analyst G. Notter expects that the communications equipment provider will post earnings per share of $0.03 for the quarter.
A number of other research analysts also recently weighed in on INFN. BidaskClub upgraded Infinera from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 7th. B. Riley upped their target price on Infinera from $10.75 to $11.00 and gave the stock a “buy” rating in a report on Thursday. ValuEngine downgraded Infinera from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. William Blair restated an “outperform” rating on shares of Infinera in a research note on Tuesday, February 6th. Finally, Northland Securities upgraded Infinera from a “market perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Infinera has an average rating of “Hold” and a consensus price target of $11.27.
Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. Infinera had a negative return on equity of 16.77% and a negative net margin of 26.26%. The firm had revenue of $195.82 million for the quarter, compared to the consensus estimate of $190.26 million. During the same quarter in the prior year, the business earned ($0.12) EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Infinera during the 4th quarter valued at $155,000. Bank of New York Mellon Corp lifted its holdings in shares of Infinera by 34.0% during the 4th quarter. Bank of New York Mellon Corp now owns 11,998,458 shares of the communications equipment provider’s stock valued at $75,950,000 after buying an additional 3,043,892 shares during the period. Eagle Boston Investment Management Inc. lifted its holdings in shares of Infinera by 33.9% during the 4th quarter. Eagle Boston Investment Management Inc. now owns 548,664 shares of the communications equipment provider’s stock valued at $3,473,000 after buying an additional 139,016 shares during the period. State of Wisconsin Investment Board lifted its holdings in shares of Infinera by 5.1% during the 4th quarter. State of Wisconsin Investment Board now owns 205,000 shares of the communications equipment provider’s stock valued at $1,298,000 after buying an additional 10,000 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Infinera by 10.7% in the 4th quarter. Wells Fargo & Company MN now owns 1,934,467 shares of the communications equipment provider’s stock worth $12,245,000 after purchasing an additional 186,382 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.
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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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