Harmonic Inc (NASDAQ:HLIT) Expected to Announce Earnings of $0.08 Per Share

Wall Street analysts forecast that Harmonic Inc (NASDAQ:HLIT) will report earnings per share of $0.08 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Harmonic’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at $0.07. Harmonic reported earnings per share of $0.11 in the same quarter last year, which would suggest a negative year-over-year growth rate of 27.3%. The business is scheduled to report its next earnings report on Monday, February 3rd.

On average, analysts expect that Harmonic will report full-year earnings of $0.24 per share for the current fiscal year, with EPS estimates ranging from $0.24 to $0.25. For the next fiscal year, analysts expect that the company will report earnings of $0.30 per share, with EPS estimates ranging from $0.25 to $0.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Harmonic.

HLIT has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Harmonic from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub lowered shares of Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Raymond James lifted their price target on shares of Harmonic from $6.75 to $9.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Northland Securities restated a “buy” rating and issued a $9.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Finally, ValuEngine lowered shares of Harmonic from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Harmonic currently has an average rating of “Hold” and a consensus target price of $9.00.

A number of hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in Harmonic by 1.8% in the third quarter. Comerica Bank now owns 83,280 shares of the communications equipment provider’s stock valued at $531,000 after purchasing an additional 1,458 shares in the last quarter. Swiss National Bank increased its stake in Harmonic by 2.5% in the second quarter. Swiss National Bank now owns 162,015 shares of the communications equipment provider’s stock valued at $899,000 after purchasing an additional 4,000 shares in the last quarter. Aperio Group LLC bought a new stake in Harmonic in the second quarter valued at $29,000. Quantamental Technologies LLC bought a new stake in Harmonic in the second quarter valued at $33,000. Finally, Tower Research Capital LLC TRC increased its stake in Harmonic by 562.8% in the second quarter. Tower Research Capital LLC TRC now owns 8,444 shares of the communications equipment provider’s stock valued at $47,000 after purchasing an additional 7,170 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

NASDAQ:HLIT traded up $0.06 during mid-day trading on Tuesday, reaching $8.02. The stock had a trading volume of 767,300 shares, compared to its average volume of 621,329. The stock has a market capitalization of $715.08 million, a PE ratio of 267.33, a P/E/G ratio of 7.60 and a beta of 0.89. The stock has a 50-day simple moving average of $6.73 and a two-hundred day simple moving average of $6.40. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 1.42. Harmonic has a 12 month low of $4.48 and a 12 month high of $8.11.

About Harmonic

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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