Harmonic Inc. (NASDAQ:HLIT) Expected to Announce Quarterly Sales of $140.57 Million

Brokerages expect that Harmonic Inc. (NASDAQ:HLIT – Get Rating) will post sales of $140.57 million for the current quarter, according to Zacks. Three analysts have issued estimates for Harmonic’s earnings. The highest sales estimate is $141.70 million and the lowest is $138.50 million. Harmonic reported sales of $111.58 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26%. The company is expected to announce its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Harmonic will report full-year sales of $589.53 million for the current financial year, with estimates ranging from $582.20 million to $596.40 million. For the next year, analysts forecast that the business will report sales of $667.55 million, with estimates ranging from $655.20 million to $679.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Harmonic.

Harmonic (NASDAQ:HLIT – Get Rating) last released its earnings results on Monday, January 31st. The communications equipment provider reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. Harmonic had a return on equity of 4.99% and a net margin of 2.61%. The company had revenue of $155.80 million for the quarter, compared to analysts’ expectations of $151.93 million. During the same period in the previous year, the business posted $0.16 EPS.

A number of research analysts have weighed in on the company. Northland Securities raised Harmonic to a “top pick” rating and set a $17.00 target price for the company in a report on Monday, January 3rd. Barclays raised Harmonic from an “equal weight” rating to an “overweight” rating and set a $11.00 target price for the company in a report on Thursday, April 21st. Colliers Securities reaffirmed a “buy” rating and set a $15.00 target price on shares of Harmonic in a report on Monday, February 28th. Zacks Investment Research raised Harmonic from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. Finally, StockNews.com lowered Harmonic from a “buy” rating to a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $13.50.

HLIT stock opened at $8.38 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $869.32 million, a PE ratio of 76.18, a PEG ratio of 5.10 and a beta of 0.88. Harmonic has a twelve month low of $6.69 and a twelve month high of $12.22. The stock has a 50-day simple moving average of $9.01 and a two-hundred day simple moving average of $9.96.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Harmonic by 1.6% in the fourth quarter. BlackRock Inc. now owns 15,932,632 shares of the communications equipment provider’s stock valued at $187,366,000 after purchasing an additional 244,916 shares during the last quarter. Trigran Investments Inc. lifted its position in Harmonic by 236.1% in the third quarter. Trigran Investments Inc. now owns 2,791,615 shares of the communications equipment provider’s stock valued at $24,427,000 after purchasing an additional 1,960,997 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Harmonic by 14.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,066,640 shares of the communications equipment provider’s stock valued at $24,303,000 after acquiring an additional 257,588 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Harmonic by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 1,749,338 shares of the communications equipment provider’s stock valued at $20,572,000 after acquiring an additional 94,538 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Harmonic during the third quarter valued at approximately $13,257,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

About Harmonic (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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