Harmonic (NASDAQ:HLIT) issued its earnings results on Sunday. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01, MarketWatch Earnings reports. Harmonic had a negative return on equity of 7.13% and a negative net margin of 10.06%. The firm had revenue of $111.60 million for the quarter, compared to analysts’ expectations of $103.11 million. During the same quarter last year, the business earned ($0.10) earnings per share. The company’s revenue was up 42.3% compared to the same quarter last year.
NASDAQ HLIT traded down $1.06 during trading on Tuesday, hitting $7.05. The stock had a trading volume of 2,241,552 shares, compared to its average volume of 679,903. The company has a market capitalization of $712.66 million, a PE ratio of -17.97, a P/E/G ratio of 2.32 and a beta of 0.83. The company’s 50-day moving average price is $8.05 and its two-hundred day moving average price is $7.45. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.22 and a current ratio of 1.47. Harmonic has a 12 month low of $4.49 and a 12 month high of $9.20.
In other Harmonic news, SVP Ian Graham sold 7,834 shares of the business’s stock in a transaction that occurred on Wednesday, February 3rd. The stock was sold at an average price of $7.66, for a total transaction of $60,008.44. Following the transaction, the senior vice president now owns 66,142 shares of the company’s stock, valued at approximately $506,647.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Neven Haltmayer sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 14th. The stock was sold at an average price of $9.00, for a total value of $720,000.00. Following the transaction, the senior vice president now directly owns 240,789 shares in the company, valued at approximately $2,167,101. The disclosure for this sale can be found here. Insiders sold a total of 328,265 shares of company stock worth $2,688,322 in the last 90 days. Company insiders own 4.10% of the company’s stock.
A number of brokerages have issued reports on HLIT. Zacks Investment Research upgraded Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, March 24th. Raymond James upgraded Harmonic to a “buy” rating in a report on Wednesday, February 3rd. Colliers Securities reiterated a “buy” rating and set a $11.00 price objective on shares of Harmonic in a report on Monday, March 8th. Barclays lifted their price objective on Harmonic from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Thursday, January 14th. Finally, Stifel Nicolaus lifted their price objective on Harmonic from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, February 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Harmonic has an average rating of “Buy” and an average target price of $8.71.
Harmonic Company Profile
Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. Its products enable customers to create, prepare, store, playout, and deliver a range of broadcast and streaming video services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.
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