Equities analysts expect that Infinera Corporation (NASDAQ:INFN) will report earnings per share of ($0.13) for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Infinera Corporation’s earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at ($0.12). Infinera Corporation posted earnings of ($0.12) per share during the same quarter last year, which would indicate a negative year over year growth rate of 8.3%. The business is expected to announce its next quarterly earnings results on Thursday, February 8th.
According to Zacks, analysts expect that Infinera Corporation will report full year earnings of ($0.54) per share for the current fiscal year, with EPS estimates ranging from ($0.56) to ($0.53). For the next year, analysts forecast that the business will post earnings of ($0.21) per share, with EPS estimates ranging from ($0.29) to ($0.10). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Infinera Corporation.
Infinera Corporation (NASDAQ:INFN) last released its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.12. Infinera Corporation had a negative net margin of 21.59% and a negative return on equity of 16.35%. The company had revenue of $192.60 million for the quarter, compared to analyst estimates of $190.37 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year.
In related news, President David F. Welch sold 20,000 shares of Infinera Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.02, for a total value of $180,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Fallon acquired 100,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $6.33 per share, with a total value of $633,000.00. The disclosure for this purchase can be found here. Insiders own 3.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas increased its stake in shares of Infinera Corporation by 3.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 409 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Infinera Corporation by 4.9% in the 2nd quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 710 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Infinera Corporation by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock valued at $591,000 after acquiring an additional 972 shares during the last quarter. Amalgamated Bank grew its position in shares of Infinera Corporation by 5.7% in the 2nd quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock valued at $196,000 after purchasing an additional 992 shares during the period. Finally, US Bancorp DE grew its position in shares of Infinera Corporation by 13.7% in the 2nd quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after purchasing an additional 1,186 shares during the period. 89.39% of the stock is owned by institutional investors.
Infinera Corporation (NASDAQ:INFN) traded up $0.03 during trading hours on Friday, hitting $7.07. 1,284,790 shares of the stock were exchanged, compared to its average volume of 1,943,955. Infinera Corporation has a 12 month low of $6.27 and a 12 month high of $12.50.
Infinera Corporation Company Profile
Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.
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