$150.20 Million in Sales Expected for Harmonic Inc. (NASDAQ:HLIT) This Quarter

Analysts expect Harmonic Inc. (NASDAQ:HLITGet Rating) to report $150.20 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Harmonic’s earnings, with estimates ranging from $148.90 million to $151.70 million. Harmonic reported sales of $113.45 million during the same quarter last year, which indicates a positive year over year growth rate of 32.4%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Harmonic will report full year sales of $609.07 million for the current year, with estimates ranging from $606.00 million to $614.30 million. For the next year, analysts forecast that the company will post sales of $686.10 million, with estimates ranging from $684.00 million to $688.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Harmonic.

Harmonic (NASDAQ:HLITGet Rating) last released its quarterly earnings results on Monday, May 2nd. The communications equipment provider reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $147.44 million during the quarter, compared to analyst estimates of $140.57 million. Harmonic had a return on equity of 6.72% and a net margin of 3.29%. During the same period in the prior year, the firm posted ($0.04) EPS.

Several equities research analysts have recently issued reports on the company. Colliers Securities reaffirmed a “buy” rating and set a $15.00 target price on shares of Harmonic in a research report on Monday, February 28th. StockNews.com raised Harmonic from a “hold” rating to a “buy” rating in a research report on Wednesday, May 4th. TheStreet lowered Harmonic from a “b-” rating to a “c” rating in a research report on Monday, May 2nd. Zacks Investment Research raised Harmonic from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Finally, Rosenblatt Securities assumed coverage on Harmonic in a research report on Monday, May 23rd. They set a “buy” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Harmonic has a consensus rating of “Buy” and an average price target of $14.00.

NASDAQ HLIT opened at $9.88 on Wednesday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 61.75 and a beta of 0.89. The business has a fifty day simple moving average of $9.10 and a 200 day simple moving average of $9.84. Harmonic has a 12 month low of $7.36 and a 12 month high of $12.22. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.44.

In other news, SVP Ian Graham sold 15,573 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $9.89, for a total transaction of $154,016.97. Following the completion of the transaction, the senior vice president now owns 100,358 shares in the company, valued at approximately $992,540.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.78% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of HLIT. Aaron Wealth Advisors LLC purchased a new position in shares of Harmonic during the 1st quarter valued at about $209,000. Acadian Asset Management LLC purchased a new position in shares of Harmonic during the 4th quarter valued at about $35,000. Captrust Financial Advisors raised its holdings in shares of Harmonic by 411.4% during the 1st quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 3,110 shares in the last quarter. Canandaigua National Corp purchased a new position in shares of Harmonic during the 1st quarter valued at about $94,000. Finally, Running Point Capital Advisors LLC purchased a new position in shares of Harmonic during the 1st quarter valued at about $100,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Harmonic Company Profile (Get Rating)

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

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Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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