Analysts forecast that Harmonic Inc (NASDAQ:HLIT) will post sales of $114.88 million for the current quarter, according to Zacks. Four analysts have issued estimates for Harmonic’s earnings, with the lowest sales estimate coming in at $114.80 million and the highest estimate coming in at $115.00 million. Harmonic posted sales of $100.62 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.2%. The company is scheduled to report its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that Harmonic will report full-year sales of $385.45 million for the current year, with estimates ranging from $384.30 million to $386.20 million. For the next fiscal year, analysts expect that the business will post sales of $442.00 million, with estimates ranging from $426.70 million to $458.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Harmonic.
Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, July 29th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. Harmonic had a negative return on equity of 3.72% and a negative net margin of 7.27%. The firm had revenue of $84.87 million for the quarter, compared to analyst estimates of $85.07 million. During the same quarter in the prior year, the company earned $0.05 EPS. Harmonic’s revenue was down 14.4% on a year-over-year basis.
Shares of NASDAQ HLIT traded down $0.21 during midday trading on Thursday, hitting $6.59. 666,901 shares of the company’s stock were exchanged, compared to its average volume of 587,868. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.14. Harmonic has a twelve month low of $4.48 and a twelve month high of $8.09. The company has a market cap of $609.35 million, a PE ratio of 219.67, a P/E/G ratio of 10.83 and a beta of 0.87. The firm’s fifty day simple moving average is $7.03 and its 200-day simple moving average is $5.91.
In other news, SVP Neven Haltmayer sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $7.28, for a total value of $218,400.00. Following the completion of the transaction, the senior vice president now owns 159,813 shares of the company’s stock, valued at approximately $1,163,438.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Aperio Group LLC acquired a new position in shares of Harmonic in the 2nd quarter valued at $29,000. Quantamental Technologies LLC bought a new stake in Harmonic in the 2nd quarter valued at $33,000. Tower Research Capital LLC TRC lifted its position in Harmonic by 562.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,444 shares of the communications equipment provider’s stock valued at $47,000 after acquiring an additional 7,170 shares in the last quarter. Bank of Montreal Can lifted its position in Harmonic by 308,766.7% in the 2nd quarter. Bank of Montreal Can now owns 9,266 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 9,263 shares in the last quarter. Finally, Laurion Capital Management LP bought a new stake in Harmonic in the 2nd quarter valued at $77,000. 86.71% of the stock is 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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