Harmonic (HLIT) to Release Earnings on Monday

Harmonic (NASDAQ:HLIT) is set to post its quarterly earnings results after the market closes on Monday, October 28th. Analysts expect Harmonic to post earnings of $0.17 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, July 29th. The communications equipment provider reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Harmonic had a return on equity of 0.27% and a net margin of 10.22%. The company had revenue of $138.70 million for the quarter, compared to the consensus estimate of $133.67 million. During the same quarter in the prior year, the business posted $0.07 EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. On average, analysts expect Harmonic to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Harmonic Stock Up 0.5 %

Shares of Harmonic stock opened at $14.78 on Friday. Harmonic has a 12 month low of $9.10 and a 12 month high of $15.31. The business has a fifty day simple moving average of $14.04 and a 200 day simple moving average of $12.53. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.72 billion, a PE ratio of 30.79 and a beta of 0.87.

Insider Buying and Selling at Harmonic

In other news, SVP Neven Haltmayer sold 40,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.41, for a total transaction of $576,400.00. Following the completion of the sale, the senior vice president now owns 122,211 shares of the company’s stock, valued at $1,761,060.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Harmonic in a research note on Tuesday, July 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday, October 15th. Finally, Barclays boosted their price target on shares of Harmonic from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.50.

About Harmonic

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.