$114.88 Million in Sales Expected for Harmonic Inc (NASDAQ:HLIT) This Quarter

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.



Several equities research analysts have recently weighed in on the company. Northland Securities reissued a “buy” rating on shares of Harmonic in a research report on Wednesday, July 10th. Stifel Nicolaus raised their price target on Harmonic from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. ValuEngine downgraded Harmonic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub downgraded Harmonic from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Raymond James raised their price target on Harmonic from $6.75 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Harmonic currently has a consensus rating of “Buy” and a consensus price target of $8.70.

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.

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.

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Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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