Brokerages Expect Harmonic Inc. (NASDAQ:HLIT) Will Announce Earnings of $0.09 Per Share

Analysts expect Harmonic Inc. (NASDAQ:HLITGet Rating) to post $0.09 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Harmonic’s earnings. Harmonic posted earnings of $0.05 per share during the same quarter last year, which suggests a positive year over year growth rate of 80%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Harmonic will report full year earnings of $0.41 per share for the current year, with EPS estimates ranging from $0.40 to $0.43. For the next fiscal year, analysts expect that the business will post earnings of $0.65 per share, with EPS estimates ranging from $0.60 to $0.69. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Harmonic.

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

A number of research firms have issued reports on HLIT. Colliers Securities reissued a “buy” rating and issued a $15.00 price objective on shares of Harmonic in a report on Monday, February 28th. Barclays boosted their price objective on shares of Harmonic from $11.00 to $13.00 in a report on Tuesday, May 3rd. Zacks Investment Research raised shares of Harmonic from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. TheStreet downgraded shares of Harmonic from a “b-” rating to a “c” rating in a report on Monday, May 2nd. Finally, Rosenblatt Securities assumed coverage on shares of Harmonic in a report on Monday, May 23rd. They set a “buy” rating and a $15.00 price target for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $14.00.

In other Harmonic news, SVP Ian Graham sold 15,573 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $9.89, for a total value of $154,016.97. Following the completion of the transaction, the senior vice president now directly owns 100,358 shares in the company, valued at approximately $992,540.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.78% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of HLIT. FMR LLC boosted its stake in Harmonic by 270.6% during the first quarter. FMR LLC now owns 290,357 shares of the communications equipment provider’s stock worth $1,574,000 after acquiring an additional 212,010 shares in the last quarter. Morgan Stanley boosted its stake in Harmonic by 2.9% during the second quarter. Morgan Stanley now owns 724,656 shares of the communications equipment provider’s stock worth $6,174,000 after acquiring an additional 20,087 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Harmonic by 55.0% during the third quarter. Alliancebernstein L.P. now owns 82,099 shares of the communications equipment provider’s stock worth $718,000 after acquiring an additional 29,130 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Harmonic by 55.1% during the third quarter. Goldman Sachs Group Inc. now owns 348,884 shares of the communications equipment provider’s stock worth $3,053,000 after acquiring an additional 123,967 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Harmonic by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,654,800 shares of the communications equipment provider’s stock worth $14,479,000 after acquiring an additional 14,123 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ HLIT traded down $0.19 during trading on Monday, reaching $9.79. The company’s stock had a trading volume of 465,900 shares, compared to its average volume of 761,504. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 61.19 and a beta of 0.89. Harmonic has a 12 month low of $7.15 and a 12 month high of $12.22. The firm has a 50 day moving average price of $9.09 and a 200 day moving average price of $9.84.

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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