Harmonic (NASDAQ:HLIT) Releases Earnings Results
Harmonic (NASDAQ:HLIT) issued its quarterly earnings results on Sunday. The communications equipment provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01, MarketWatch Earnings reports. Harmonic had a negative net margin of 10.06% and a negative return on equity of 7.13%. The company had revenue of $111.60 million for the quarter, compared to analyst estimates of $103.11 million. Harmonic’s revenue was up 42.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share.
NASDAQ HLIT traded down $1.05 on Tuesday, hitting $7.06. 118,039 shares of the stock were exchanged, compared to its average volume of 661,089. Harmonic has a 52-week low of $4.49 and a 52-week high of $9.20. The stock has a fifty day moving average price of $8.05 and a two-hundred day moving average price of $7.45. The firm has a market capitalization of $713.67 million, a P/E ratio of -17.97, a P/E/G ratio of 2.32 and a beta of 0.83. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.22 and a current ratio of 1.47.
A number of equities research analysts have commented on HLIT shares. Zacks Investment Research upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, March 24th. Stifel Nicolaus lifted their price target on Harmonic from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Colliers Securities restated a “buy” rating and set a $11.00 price objective on shares of Harmonic in a research report on Monday, March 8th. Raymond James upgraded shares of Harmonic to a “buy” rating in a report on Wednesday, February 3rd. Finally, Barclays raised their target price on shares of Harmonic from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target 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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