$99.00 Million in Sales Expected for Harmonic Inc (HLIT) This Quarter

Equities research analysts expect Harmonic Inc (NASDAQ:HLIT) to report sales of $99.00 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Harmonic’s earnings, with the highest sales estimate coming in at $102.00 million and the lowest estimate coming in at $95.40 million. Harmonic reported sales of $92.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, October 29th.

On average, analysts expect that Harmonic will report full-year sales of $399.83 million for the current fiscal year, with estimates ranging from $391.10 million to $408.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $443.57 million, with estimates ranging from $430.50 million to $460.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Harmonic.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, July 30th. The communications equipment provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.09. Harmonic had a negative return on equity of 5.68% and a negative net margin of 11.52%. The firm had revenue of $99.40 million for the quarter, compared to analyst estimates of $95.72 million. During the same period in the previous year, the firm earned ($0.20) earnings per share. Harmonic’s quarterly revenue was up 20.8% on a year-over-year basis.

Several research analysts have weighed in on the company. BidaskClub raised Harmonic from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Loop Capital assumed coverage on Harmonic in a research report on Thursday, September 20th. They issued a “buy” rating and a $8.25 target price on the stock. ValuEngine raised Harmonic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research lowered Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Northland Securities set a $7.00 target price on Harmonic and gave the stock a “buy” rating in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $6.50.

Shares of HLIT stock opened at $5.29 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. Harmonic has a fifty-two week low of $2.80 and a fifty-two week high of $5.93. The stock has a market capitalization of $473.17 million, a price-to-earnings ratio of -9.79 and a beta of 0.70.

Hedge funds have recently modified their holdings of the business. Divisar Capital Management LLC increased its position in Harmonic by 33.4% in the 2nd quarter. Divisar Capital Management LLC now owns 3,371,972 shares of the communications equipment provider’s stock worth $14,331,000 after purchasing an additional 844,508 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Harmonic by 1.1% during the 1st quarter. BlackRock Inc. now owns 10,614,738 shares of the communications equipment provider’s stock worth $40,337,000 after acquiring an additional 115,823 shares in the last quarter. Manatuck Hill Partners LLC bought a new stake in shares of Harmonic during the 2nd quarter worth about $128,000. Royce & Associates LP boosted its stake in shares of Harmonic by 3.7% during the 2nd quarter. Royce & Associates LP now owns 1,680,250 shares of the communications equipment provider’s stock worth $7,141,000 after acquiring an additional 59,651 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Harmonic by 112.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock worth $154,000 after acquiring an additional 19,174 shares in the last quarter. 86.52% of the stock is currently owned by institutional investors.

About Harmonic

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

Further Reading: What are the risks of holding treasury bonds?

Get a free copy of the Zacks research report on Harmonic (HLIT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply