Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Harmonic (HLIT) Share Price
News articles about Harmonic (NASDAQ:HLIT) have trended somewhat positive recently, according to Accern. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Harmonic earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave news articles about the communications equipment provider an impact score of 45.6153809182091 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
A number of brokerages recently weighed in on HLIT. ValuEngine upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Friday. TheStreet downgraded shares of Harmonic from a “c-” rating to a “d+” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Jefferies Group reiterated a “hold” rating and issued a $3.50 price target on shares of Harmonic in a research report on Sunday, September 10th. Finally, Dougherty & Co restated a “buy” rating and set a $6.50 target price on shares of Harmonic in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.06.
Shares of Harmonic (HLIT) opened at $4.00 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 0.56. Harmonic has a fifty-two week low of $2.80 and a fifty-two week high of $6.18.
Harmonic (NASDAQ:HLIT) last announced its earnings results on Monday, October 30th. The communications equipment provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07. The firm had revenue of $92.00 million for the quarter, compared to the consensus estimate of $85.63 million. Harmonic had a negative net margin of 22.02% and a negative return on equity of 13.06%. The business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. sell-side analysts expect that Harmonic will post -0.51 earnings per share for the current year.
In other Harmonic news, SVP Bart Spriester sold 8,004 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $3.81, for a total transaction of $30,495.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Neven Haltmayer sold 8,311 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total transaction of $31,664.91. The disclosure for this sale can be found here. Insiders have sold a total of 25,933 shares of company stock worth $98,389 over the last 90 days. Corporate insiders own 5.53% of the company’s stock.
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Harmonic Company Profile
Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.
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