Brokerages forecast that Harmonic Inc (NASDAQ:HLIT) will announce earnings of $0.01 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Harmonic’s earnings. The lowest EPS estimate is ($0.01) and the highest is $0.03. Harmonic posted earnings per share of $0.08 during the same quarter last year, which suggests a negative year over year growth rate of 87.5%. The business is expected to report its next quarterly earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Harmonic will report full year earnings of ($0.33) per share for the current financial year, with EPS estimates ranging from ($0.35) to ($0.30). For the next year, analysts expect that the company will post earnings of $0.15 per share, with EPS estimates ranging from $0.09 to $0.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Harmonic.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings results on Monday, October 30th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $92.00 million during the quarter, compared to the consensus estimate of $85.63 million. Harmonic had a negative return on equity of 13.06% and a negative net margin of 22.02%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS.

Several research firms have commented on HLIT. Zacks Investment Research raised shares of Harmonic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 13th. ValuEngine cut shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Northland Securities set a $6.00 target price on shares of Harmonic and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Dougherty & Co reissued a “buy” rating and set a $6.50 target price on shares of Harmonic in a research report on Monday, October 23rd. Finally, BidaskClub raised shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.06.

In related news, SVP Bart Spriester sold 8,004 shares of Harmonic stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $3.81, for a total value of $30,495.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Neven Haltmayer sold 8,311 shares of Harmonic 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. In the last three months, insiders have sold 25,933 shares of company stock worth $98,389. Insiders own 5.53% of the company’s stock.

Several large investors have recently bought and sold shares of HLIT. Vanguard Group Inc. raised its holdings in shares of Harmonic by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,803,837 shares of the communications equipment provider’s stock worth $30,470,000 after purchasing an additional 203,002 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Harmonic by 21.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 936,171 shares of the communications equipment provider’s stock valued at $2,856,000 after acquiring an additional 166,398 shares during the period. State Street Corp raised its holdings in Harmonic by 7.0% during the 2nd quarter. State Street Corp now owns 1,961,470 shares of the communications equipment provider’s stock valued at $10,303,000 after acquiring an additional 129,086 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Harmonic during the 3rd quarter valued at $190,000. Finally, Dimensional Fund Advisors LP raised its holdings in Harmonic by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,629,442 shares of the communications equipment provider’s stock valued at $34,805,000 after acquiring an additional 58,240 shares during the period. 95.98% of the stock is currently owned by institutional investors.

Harmonic (HLIT) traded down $0.10 during mid-day trading on Tuesday, reaching $3.90. The company’s stock had a trading volume of 337,100 shares, compared to its average volume of 592,917. The firm has a market cap of $325.09, a P/E ratio of -3.82 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.20 and a quick ratio of 0.99. Harmonic has a fifty-two week low of $2.80 and a fifty-two week high of $6.18.

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About Harmonic

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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