$0.01 Earnings Per Share Expected for Harmonic Inc (HLIT) This Quarter
Equities research analysts predict that Harmonic Inc (NASDAQ:HLIT) will post $0.01 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Harmonic’s earnings, with the lowest EPS estimate coming in at ($0.02) and the highest estimate coming in at $0.02. Harmonic posted earnings per share of ($0.01) in the same quarter last year, which would suggest a positive year-over-year growth rate of 200%. The company is expected to report its next earnings report on Monday, October 29th.
According to Zacks, analysts expect that Harmonic will report full year earnings of $0.10 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.14. For the next financial year, analysts forecast that the business will report earnings of $0.23 per share, with EPS estimates ranging from $0.15 to $0.30. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for Harmonic.
Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, July 30th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The firm had revenue of $99.40 million for the quarter, compared to the consensus estimate of $95.72 million. Harmonic had a negative return on equity of 5.68% and a negative net margin of 11.52%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.20) EPS.
NASDAQ HLIT opened at $5.40 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.29. The stock has a market cap of $464.57 million, a price-to-earnings ratio of -10.00 and a beta of 0.73. Harmonic has a 1 year low of $2.80 and a 1 year high of $5.65.
Institutional investors and hedge funds have recently modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new stake in shares of Harmonic in the 1st quarter valued at approximately $107,000. Manatuck Hill Partners LLC bought a new stake in shares of Harmonic in the 2nd quarter valued at approximately $128,000. SG Americas Securities LLC bought a new stake in shares of Harmonic in the 2nd quarter valued at approximately $138,000. MetLife Investment Advisors LLC grew its stake in shares of Harmonic by 111.5% in the 1st quarter. MetLife Investment Advisors LLC now owns 39,538 shares of the communications equipment provider’s stock valued at $150,000 after buying an additional 20,842 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Harmonic by 112.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock valued at $154,000 after buying an additional 19,174 shares in the last quarter. Institutional investors own 86.52% of the company’s stock.
Harmonic Company Profile
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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