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.

Several research firms have issued reports on HLIT. Loop Capital began coverage on Harmonic in a report on Thursday. They set a “buy” rating and a $8.25 price objective on the stock. BidaskClub downgraded Harmonic from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded Harmonic from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, Northland Securities set a $7.00 price objective on Harmonic and gave the stock a “buy” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $6.50.

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.

Featured Article: What is the NASDAQ Stock Market?

Get a free copy of the Zacks research report on Harmonic (HLIT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.