Infinera Corp. (INFN) Expected to Post Quarterly Sales of $210.80 Million

Equities analysts expect Infinera Corp. (NASDAQ:INFN) to post $210.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Infinera’s earnings, with the lowest sales estimate coming in at $204.40 million and the highest estimate coming in at $216.82 million. Infinera reported sales of $192.58 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, November 6th.

On average, analysts expect that Infinera will report full year sales of $1.06 billion for the current financial year, with estimates ranging from $1.03 billion to $1.08 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.66 billion, with estimates ranging from $1.61 billion to $1.69 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Infinera.

Infinera (NASDAQ:INFN) last issued its earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $208.23 million for the quarter, compared to analyst estimates of $208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. During the same period in the previous year, the company posted ($0.15) earnings per share.



A number of analysts recently issued reports on the company. ValuEngine upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday. B. Riley decreased their price objective on Infinera from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 8th. MKM Partners decreased their price objective on Infinera to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 24th. BidaskClub lowered Infinera from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Finally, Rosenblatt Securities set a $13.00 price objective on Infinera and gave the company a “buy” rating in a research note on Tuesday, July 24th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Infinera has a consensus rating of “Hold” and a consensus price target of $10.66.

A number of institutional investors have recently bought and sold shares of INFN. Millennium Management LLC grew its position in Infinera by 1,021.4% during the first quarter. Millennium Management LLC now owns 1,099,867 shares of the communications equipment provider’s stock worth $11,945,000 after buying an additional 1,001,790 shares in the last quarter. Legal & General Group Plc grew its position in Infinera by 21.1% during the first quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock worth $753,000 after buying an additional 12,098 shares in the last quarter. Royal Bank of Canada grew its position in Infinera by 1,721.2% during the first quarter. Royal Bank of Canada now owns 186,835 shares of the communications equipment provider’s stock worth $2,029,000 after buying an additional 176,576 shares in the last quarter. Fisher Asset Management LLC grew its position in Infinera by 0.6% during the second quarter. Fisher Asset Management LLC now owns 5,966,448 shares of the communications equipment provider’s stock worth $59,247,000 after buying an additional 37,172 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Infinera during the second quarter worth about $242,000. Institutional investors and hedge funds own 82.94% of the company’s stock.

Shares of INFN opened at $5.54 on Thursday. The firm has a market capitalization of $820.03 million, a price-to-earnings ratio of -6.67 and a beta of 0.07. Infinera has a 1 year low of $5.24 and a 1 year high of $12.39.

About Infinera

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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Earnings History and Estimates for Infinera (NASDAQ:INFN)

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