Infinera (INFN) to Release Quarterly Earnings on Tuesday

Infinera (NASDAQ:INFNGet Rating) is scheduled to be announcing its earnings results after the market closes on Tuesday, May 3rd. Analysts expect the company to announce earnings of ($0.10) per share for the quarter. Infinera has set its Q1 2022 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Infinera (NASDAQ:INFNGet Rating) last announced its quarterly earnings data on Wednesday, February 16th. The communications equipment provider reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Infinera had a negative return on equity of 16.77% and a negative net margin of 11.98%. The company had revenue of $400.26 million during the quarter, compared to the consensus estimate of $386.17 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, analysts expect Infinera to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of NASDAQ:INFN opened at $8.10 on Tuesday. Infinera has a one year low of $7.22 and a one year high of $10.89. The stock has a fifty day moving average of $8.38 and a 200-day moving average of $8.49. The company has a market capitalization of $1.73 billion, a PE ratio of -9.76 and a beta of 1.01. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.62.

A number of equities research analysts have recently commented on INFN shares. Rosenblatt Securities started coverage on Infinera in a research report on Wednesday, March 23rd. They set a “buy” rating and a $12.00 price objective for the company. StockNews.com initiated coverage on Infinera in a report on Thursday, March 31st. They issued a “hold” rating for the company. Loop Capital initiated coverage on Infinera in a report on Monday, February 14th. They issued a “hold” rating and a $9.00 target price for the company. Zacks Investment Research upgraded Infinera from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Wednesday, April 20th. Finally, B. Riley increased their target price on Infinera from $11.50 to $12.50 in a report on Thursday, February 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Infinera has an average rating of “Hold” and an average price target of $10.22.

In related news, Director David F. Welch sold 200,000 shares of the stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $9.14, for a total value of $1,828,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nicholas Walden sold 4,882 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $9.08, for a total transaction of $44,328.56. The disclosure for this sale can be found here. Insiders have sold 354,882 shares of company stock valued at $3,229,829 over the last 90 days. Corporate insiders own 2.82% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INFN. Millennium Management LLC lifted its stake in Infinera by 4,845.6% during the fourth quarter. Millennium Management LLC now owns 556,133 shares of the communications equipment provider’s stock worth $5,333,000 after purchasing an additional 544,888 shares during the period. JPMorgan Chase & Co. lifted its stake in Infinera by 289.6% during the fourth quarter. JPMorgan Chase & Co. now owns 452,420 shares of the communications equipment provider’s stock worth $4,338,000 after purchasing an additional 336,289 shares during the period. Marshall Wace LLP bought a new position in Infinera during the fourth quarter worth about $4,125,000. California State Teachers Retirement System lifted its stake in Infinera by 4.0% during the fourth quarter. California State Teachers Retirement System now owns 249,817 shares of the communications equipment provider’s stock worth $2,396,000 after purchasing an additional 9,567 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Infinera during the fourth quarter worth about $1,705,000. Institutional investors and hedge funds own 91.65% of the company’s stock.

About Infinera (Get Rating)

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.

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Earnings History for Infinera (NASDAQ:INFN)

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