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.
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.
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