Harmonic Inc (NASDAQ:HLIT) Expected to Post Earnings of -$0.05 Per Share

Wall Street brokerages forecast that Harmonic Inc (NASDAQ:HLIT) will report earnings per share (EPS) of ($0.05) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Harmonic’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.03). Harmonic also reported earnings of ($0.05) per share during the same quarter last year. The firm is scheduled to issue its next earnings report on Monday, May 4th.

According to Zacks, analysts expect that Harmonic will report full year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.24. For the next financial year, analysts expect that the business will report earnings of $0.36 per share, with EPS estimates ranging from $0.25 to $0.51. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Harmonic.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, February 3rd. The communications equipment provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. The business had revenue of $122.18 million during the quarter, compared to analyst estimates of $113.07 million. Harmonic had a positive return on equity of 7.34% and a negative net margin of 1.47%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share.

HLIT has been the subject of several recent research reports. BidaskClub raised Harmonic from a “strong sell” rating to a “sell” rating in a research report on Friday, March 6th. ValuEngine lowered Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Harmonic in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.00.

Harmonic stock traded up $0.62 on Friday, hitting $6.09. 1,209,677 shares of the stock traded hands, compared to its average volume of 857,881. The company has a current ratio of 1.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The firm has a market cap of $526.45 million, a P/E ratio of -76.13, a price-to-earnings-growth ratio of 36.60 and a beta of 1.03. The business’s fifty day simple moving average is $6.06 and its 200 day simple moving average is $7.09. Harmonic has a 1 year low of $4.44 and a 1 year high of $8.57.

In other news, CEO Patrick Harshman sold 63,662 shares of Harmonic stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $6.75, for a total value of $429,718.50. Following the completion of the transaction, the chief executive officer now owns 1,041,814 shares of the company’s stock, valued at approximately $7,032,244.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.40% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. AE Wealth Management LLC bought a new stake in shares of Harmonic during the 4th quarter valued at about $82,000. First Trust Advisors LP bought a new stake in shares of Harmonic during the 4th quarter valued at about $403,000. Point72 Asset Management L.P. bought a new stake in shares of Harmonic during the 3rd quarter valued at about $199,000. Barclays PLC grew its stake in shares of Harmonic by 74.1% during the 3rd quarter. Barclays PLC now owns 176,299 shares of the communications equipment provider’s stock valued at $1,160,000 after purchasing an additional 75,008 shares during the period. Finally, State Street Corp grew its stake in shares of Harmonic by 6.3% during the 3rd quarter. State Street Corp now owns 2,529,165 shares of the communications equipment provider’s stock valued at $16,642,000 after purchasing an additional 148,890 shares during the period. 86.96% of the stock is owned by hedge funds and other 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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