Analysts Expect Harmonic Inc (HLIT) Will Post Quarterly Sales of $99.00 Million

Equities research analysts expect Harmonic Inc (NASDAQ:HLIT) to report $99.00 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Harmonic’s earnings, with the lowest sales estimate coming in at $95.40 million and the highest estimate coming in at $102.00 million. Harmonic posted sales of $92.01 million during the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The business is expected to report its next earnings report after the market closes on Monday, October 29th.

On average, analysts expect that Harmonic will report full-year sales of $399.83 million for the current fiscal year, with estimates ranging from $391.10 million to $408.00 million. For the next year, analysts forecast that the firm will report sales of $443.57 million, with estimates ranging from $430.50 million to $460.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Harmonic.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, July 30th. The communications equipment provider reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $95.72 million. Harmonic had a negative return on equity of 5.68% and a negative net margin of 11.52%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS.

A number of research firms recently commented on HLIT. ValuEngine upgraded Harmonic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 4th. BidaskClub upgraded Harmonic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Northland Securities set a $7.00 price objective on Harmonic and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research cut Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Loop Capital began coverage on Harmonic in a research report on Thursday, September 20th. They set a “buy” rating and a $8.25 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $6.50.

Harmonic stock opened at $5.29 on Friday. The stock has a market cap of $473.17 million, a P/E ratio of -9.79 and a beta of 0.70. Harmonic has a 52 week low of $2.80 and a 52 week high of $5.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.29 and a quick ratio of 1.12.

A number of institutional investors and hedge funds have recently bought and sold shares of HLIT. Manatuck Hill Partners LLC purchased a new stake in Harmonic in the 2nd quarter valued at about $128,000. SG Americas Securities LLC purchased a new stake in Harmonic in the 2nd quarter valued at about $138,000. MetLife Investment Advisors LLC grew its holdings in Harmonic by 111.5% in the 1st quarter. MetLife Investment Advisors LLC now owns 39,538 shares of the communications equipment provider’s stock valued at $150,000 after buying an additional 20,842 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in Harmonic by 112.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock valued at $154,000 after buying an additional 19,174 shares during the period. Finally, Laurion Capital Management LP purchased a new stake in Harmonic in the 2nd quarter valued at about $213,000. Institutional investors own 86.52% of the company’s stock.

Harmonic Company Profile

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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