Harmonic (HLIT) Scheduled to Post Quarterly Earnings on Monday

Harmonic (NASDAQ:HLIT) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, July 29th. Analysts expect the company to announce earnings of $0.04 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, April 29th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). Harmonic had a net margin of 12.37% and a return on equity of 1.35%. The firm had revenue of $122.06 million during the quarter, compared to the consensus estimate of $121.70 million. During the same period last year, the business earned $0.06 EPS. The business’s revenue was down 22.6% 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 Performance

Shares of HLIT opened at $12.04 on Friday. The firm has a 50-day moving average of $11.83 and a 200-day moving average of $12.02. Harmonic has a one year low of $8.80 and a one year high of $15.39. The company has a market cap of $1.35 billion, a PE ratio of 20.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 0.78.

Insider Transactions at Harmonic

In other news, SVP Ian Graham sold 52,730 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $10.95, for a total transaction of $577,393.50. Following the completion of the sale, the senior vice president now owns 63,616 shares in the company, valued at approximately $696,595.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HLIT has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a research report on Monday, June 17th. Rosenblatt Securities restated a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $17.60.

Harmonic Company Profile

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.