Brokerages expect Harmonic Inc (NASDAQ:HLIT) to report $99.00 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Harmonic’s earnings. The lowest sales estimate is $95.40 million and the highest is $102.00 million. Harmonic reported sales of $92.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The business is expected to report its next earnings report after the market closes on Monday, October 29th.

On average, analysts expect that Harmonic will report full year sales of $399.83 million for the current fiscal year, with estimates ranging from $391.10 million to $408.00 million. For the next year, analysts forecast that the firm will post sales of $443.57 million, with estimates ranging from $430.50 million to $460.00 million. Zacks Investment Research’s sales 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, July 30th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The business had revenue of $99.40 million for the quarter, compared to analyst estimates of $95.72 million. Harmonic had a negative net margin of 11.52% and a negative return on equity of 5.68%. The company’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) EPS.

A number of research firms recently issued reports on HLIT. BidaskClub raised shares of Harmonic from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Loop Capital began coverage on shares of Harmonic in a research report on Thursday, September 20th. They set a “buy” rating and a $8.25 target price for the company. ValuEngine raised shares of Harmonic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research downgraded shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Northland Securities set a $7.00 target price on shares of Harmonic and gave the stock a “buy” rating in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Harmonic presently has an average rating of “Buy” and a consensus price target of $6.50.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Manatuck Hill Partners LLC acquired a new stake in Harmonic during the 2nd quarter worth approximately $128,000. SG Americas Securities LLC acquired a new stake in Harmonic in the second quarter valued at approximately $138,000. Metropolitan Life Insurance Co. NY grew its position in Harmonic by 112.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock valued at $154,000 after acquiring an additional 19,174 shares in the last quarter. MetLife Investment Advisors LLC grew its position in Harmonic by 111.5% in the first quarter. MetLife Investment Advisors LLC now owns 39,538 shares of the communications equipment provider’s stock valued at $150,000 after acquiring an additional 20,842 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in Harmonic in the second quarter valued at approximately $213,000. 86.34% of the stock is owned by hedge funds and other institutional investors.

HLIT traded down $0.06 on Friday, reaching $5.31. 183,932 shares of the company’s stock were exchanged, compared to its average volume of 362,836. The company has a market cap of $461.99 million, a PE ratio of -9.83 and a beta of 0.70. Harmonic has a twelve month low of $2.80 and a twelve month high of $5.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.29.

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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