Brokerages Expect Harmonic Inc. (HLIT) to Announce $0.01 EPS

Wall Street analysts expect Harmonic Inc. (NASDAQ:HLIT) to announce $0.01 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Harmonic’s earnings, with estimates ranging from ($0.01) to $0.03. Harmonic reported earnings per share of $0.08 in the same quarter last year, which would suggest a negative year-over-year growth rate of 87.5%. The company is scheduled to announce its next quarterly earnings report on Tuesday, February 27th.

On average, analysts expect that Harmonic will report full year earnings of ($0.33) per share for the current year, with EPS estimates ranging from ($0.35) to ($0.30). For the next fiscal year, analysts anticipate that the firm will report earnings of $0.19 per share, with EPS estimates ranging from $0.09 to $0.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Harmonic.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, October 30th. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. The firm had revenue of $92.00 million for the quarter, compared to analyst estimates of $85.63 million. Harmonic had a negative return on equity of 13.06% and a negative net margin of 22.02%. Harmonic’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) earnings per share.

A number of brokerages have commented on HLIT. ValuEngine upgraded Harmonic from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “strong-buy” rating and set a $4.25 target price on the stock in a research note on Friday, November 3rd. Dougherty & Co restated a “buy” rating and issued a $6.50 target price on shares of Harmonic in a research note on Monday, October 23rd. Northland Securities set a $6.00 target price on Harmonic and gave the company a “buy” rating in a research note on Tuesday, October 17th. Finally, Jefferies Group restated a “hold” rating and issued a $3.50 target price on shares of Harmonic in a research note on Sunday, September 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.06.

In other news, SVP Bart Spriester sold 8,004 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $3.81, for a total transaction of $30,495.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Neven Haltmayer sold 8,311 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $31,664.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,933 shares of company stock valued at $98,389. 5.53% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HLIT. Municipal Employees Retirement System of Michigan boosted its stake in shares of Harmonic by 5.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,030 shares of the communications equipment provider’s stock worth $100,000 after acquiring an additional 1,010 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Harmonic during the 2nd quarter worth about $142,000. BNP Paribas Arbitrage SA boosted its stake in shares of Harmonic by 41.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 14,536 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Harmonic by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the communications equipment provider’s stock worth $172,000 after acquiring an additional 300 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Harmonic during the 3rd quarter worth about $190,000. Institutional investors own 96.00% of the company’s stock.

Shares of Harmonic (NASDAQ:HLIT) traded up $0.05 during midday trading on Wednesday, reaching $4.10. The company’s stock had a trading volume of 1,303,600 shares, compared to its average volume of 629,474. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Harmonic has a 1 year low of $2.80 and a 1 year high of $6.18.

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Harmonic Company Profile

Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.

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