Harmonic Inc. (NASDAQ:HLIT) Expected to Post Quarterly Sales of $150.20 Million

Equities analysts expect Harmonic Inc. (NASDAQ:HLITGet Rating) to report sales of $150.20 million for the current quarter, according to Zacks. Three analysts have made estimates for Harmonic’s earnings, with the highest sales estimate coming in at $151.70 million and the lowest estimate coming in at $148.90 million. Harmonic reported sales of $113.45 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 32.4%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Harmonic will report full year sales of $609.07 million for the current fiscal year, with estimates ranging from $606.00 million to $614.30 million. For the next year, analysts expect that the firm will post sales of $686.10 million, with estimates ranging from $684.00 million to $688.20 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Harmonic.

Harmonic (NASDAQ:HLITGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. Harmonic had a net margin of 3.29% and a return on equity of 6.72%. The business had revenue of $147.44 million during the quarter, compared to the consensus estimate of $140.57 million. During the same quarter last year, the firm posted ($0.04) EPS.

A number of research firms have issued reports on HLIT. Zacks Investment Research upgraded Harmonic from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Colliers Securities reaffirmed a “buy” rating and set a $15.00 target price on shares of Harmonic in a research report on Monday, February 28th. TheStreet lowered Harmonic from a “b-” rating to a “c” rating in a research report on Monday, May 2nd. StockNews.com raised shares of Harmonic from a “hold” rating to a “buy” rating in a report on Wednesday, May 4th. Finally, Barclays increased their target price on shares of Harmonic from $11.00 to $13.00 in a report on Tuesday, May 3rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.83.

Several large investors have recently modified their holdings of HLIT. BlackRock Inc. raised its position in Harmonic by 0.5% in the first quarter. BlackRock Inc. now owns 16,004,878 shares of the communications equipment provider’s stock worth $148,685,000 after acquiring an additional 72,246 shares during the period. Vanguard Group Inc. lifted its stake in Harmonic by 3.7% in the first quarter. Vanguard Group Inc. now owns 6,891,964 shares of the communications equipment provider’s stock valued at $64,027,000 after purchasing an additional 247,780 shares during the last quarter. Trigran Investments Inc. lifted its stake in Harmonic by 54.0% in the first quarter. Trigran Investments Inc. now owns 5,621,899 shares of the communications equipment provider’s stock valued at $52,228,000 after purchasing an additional 1,970,863 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Harmonic by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,768,594 shares of the communications equipment provider’s stock valued at $44,300,000 after purchasing an additional 51,817 shares during the period. Finally, State Street Corp increased its position in Harmonic by 3.3% in the first quarter. State Street Corp now owns 3,193,409 shares of the communications equipment provider’s stock worth $29,667,000 after buying an additional 102,382 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors.

NASDAQ:HLIT opened at $9.20 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 1.06. Harmonic has a one year low of $6.69 and a one year high of $12.22. The company has a market cap of $961.30 million, a PE ratio of 57.50 and a beta of 0.90. The firm has a 50-day moving average of $9.00 and a 200-day moving average of $9.95.

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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Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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