$0.04 EPS Expected for Harmonic Inc. (NASDAQ:HLIT) This Quarter

Brokerages expect Harmonic Inc. (NASDAQ:HLITGet Rating) to report $0.04 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Harmonic’s earnings, with the highest EPS estimate coming in at $0.04 and the lowest estimate coming in at $0.03. Harmonic also posted earnings per share of $0.04 in the same quarter last year. The company is expected to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Harmonic will report full year earnings of $0.36 per share for the current fiscal year, with EPS estimates ranging from $0.30 to $0.39. For the next fiscal year, analysts forecast that the business will post earnings of $0.62 per share, with EPS estimates ranging from $0.55 to $0.69. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Harmonic.

Harmonic (NASDAQ:HLITGet Rating) last issued its quarterly earnings results on Monday, January 31st. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $155.80 million during the quarter, compared to the consensus estimate of $151.93 million. Harmonic had a return on equity of 4.99% and a net margin of 2.61%. During the same period last year, the company earned $0.16 earnings per share.

A number of research firms have recently commented on HLIT. Zacks Investment Research upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. StockNews.com cut shares of Harmonic from a “buy” rating to a “hold” rating in a report on Tuesday. Northland Securities upgraded shares of Harmonic to a “top pick” rating and set a $17.00 price target on the stock in a report on Monday, January 3rd. Barclays upgraded shares of Harmonic from an “equal weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a report on Thursday, April 21st. Finally, Colliers Securities restated a “buy” rating and set a $15.00 price objective on shares of Harmonic in a research report on Monday, February 28th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Harmonic currently has a consensus rating of “Buy” and a consensus price target of $13.50.

Shares of NASDAQ:HLIT traded down $0.34 during trading on Tuesday, reaching $8.49. 503,893 shares of the stock traded hands, compared to its average volume of 780,002. The firm’s 50-day moving average price is $9.03. Harmonic has a 52-week low of $6.69 and a 52-week high of $12.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.12 and a current ratio of 1.44. The company has a market capitalization of $880.73 million, a PE ratio of 77.18, a P/E/G ratio of 5.10 and a beta of 0.88.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in Harmonic during the fourth quarter valued at approximately $35,000. ARS Investment Partners LLC bought a new stake in Harmonic during the third quarter valued at approximately $88,000. Guggenheim Capital LLC bought a new stake in Harmonic during the fourth quarter valued at approximately $135,000. Teacher Retirement System of Texas grew its position in Harmonic by 25.5% during the third quarter. Teacher Retirement System of Texas now owns 15,743 shares of the communications equipment provider’s stock valued at $138,000 after buying an additional 3,201 shares during the period. Finally, Virtu Financial LLC bought a new stake in Harmonic during the fourth quarter valued at approximately $141,000. Institutional investors own 97.06% of the company’s stock.

Harmonic Company Profile (Get Rating)

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

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Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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