Equities analysts expect Harmonic Inc (NASDAQ:HLIT) to post $85.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Harmonic’s earnings, with the highest sales estimate coming in at $87.10 million and the lowest estimate coming in at $84.20 million. Harmonic reported sales of $90.13 million during the same quarter last year, which indicates a negative year over year growth rate of 5.1%. The company is expected to issue its next earnings results after the market closes on Monday, April 29th.

According to Zacks, analysts expect that Harmonic will report full year sales of $410.63 million for the current financial year, with estimates ranging from $405.00 million to $418.00 million. For the next financial year, analysts anticipate that the firm will post sales of $457.10 million, with estimates ranging from $454.80 million to $459.40 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Harmonic.

Harmonic (NASDAQ:HLIT) last announced its earnings results on Monday, February 4th. The communications equipment provider reported $0.08 EPS for the quarter, topping the consensus estimate of $0.02 by $0.06. The firm had revenue of $113.60 million for the quarter, compared to the consensus estimate of $113.13 million. Harmonic had a negative net margin of 5.21% and a negative return on equity of 0.08%. Harmonic’s revenue for the quarter was up 12.4% compared to the same quarter last year.

HLIT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Harmonic from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a report on Wednesday, April 17th. BidaskClub downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a report on Saturday, March 30th. Finally, Needham & Company LLC initiated coverage on shares of Harmonic in a report on Wednesday, February 13th. They issued a “buy” rating and a $7.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.10.

HLIT stock traded down $0.02 during mid-day trading on Tuesday, hitting $5.65. 389,630 shares of the company were exchanged, compared to its average volume of 380,846. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.25 and a current ratio of 1.44. The company has a market capitalization of $502.81 million, a P/E ratio of 188.33 and a beta of 0.88. Harmonic has a 1-year low of $3.35 and a 1-year high of $6.32.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC boosted its position in Harmonic by 43.9% during the third quarter. MetLife Investment Advisors LLC now owns 56,889 shares of the communications equipment provider’s stock worth $313,000 after purchasing an additional 17,351 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Harmonic in the fourth quarter valued at about $336,000. Boston Advisors LLC bought a new stake in shares of Harmonic in the fourth quarter valued at about $1,158,000. Virtu Financial LLC bought a new stake in shares of Harmonic in the fourth quarter valued at about $184,000. Finally, Marathon Capital Management boosted its position in shares of Harmonic by 37.9% in the fourth quarter. Marathon Capital Management now owns 278,550 shares of the communications equipment provider’s stock valued at $1,314,000 after acquiring an additional 76,550 shares during the period. Institutional investors and hedge funds own 85.18% of the company’s stock.

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.

Further Reading: How to Use the New Google Finance Tool

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.