Harmonic (HLIT) Expected to Announce Quarterly Earnings on Monday

Harmonic (NASDAQ:HLIT) will likely be posting its quarterly earnings results after the market closes on Monday, February 10th. Analysts expect Harmonic to post earnings of $0.37 per share and revenue of $212.45 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Harmonic Trading Down 1.9 %

Shares of HLIT opened at $11.13 on Friday. Harmonic has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The firm has a market cap of $1.30 billion, a P/E ratio of 15.25 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. The business has a 50-day moving average of $12.68 and a 200 day moving average of $13.13.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HLIT. Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and reduced their price objective for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Northland Securities cut their price target on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Raymond James downgraded shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $17.00 to $14.00 in a research note on Tuesday, October 29th. Rosenblatt Securities restated a “buy” rating and set a $16.00 target price on shares of Harmonic in a report on Tuesday. Finally, Barclays cut shares of Harmonic from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $17.00 to $14.00 in a report on Thursday, January 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Harmonic currently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

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.