Q2 2024 EPS Estimates for Harmonic Inc. (NASDAQ:HLIT) Reduced by Analyst

Harmonic Inc. (NASDAQ:HLITFree Report) – Northland Capmk reduced their Q2 2024 EPS estimates for shares of Harmonic in a research report issued to clients and investors on Tuesday, January 30th. Northland Capmk analyst T. Savageaux now anticipates that the communications equipment provider will post earnings per share of $0.02 for the quarter, down from their previous estimate of $0.08. The consensus estimate for Harmonic’s current full-year earnings is $0.52 per share. Northland Capmk also issued estimates for Harmonic’s Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.34 EPS and FY2024 earnings at $0.39 EPS.

Several other analysts have also recently weighed in on HLIT. Rosenblatt Securities lowered their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays reduced their target price on shares of Harmonic from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Harmonic in a report on Wednesday, December 20th. Raymond James reduced their target price on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Tuesday. Finally, StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $17.20.

View Our Latest Analysis on Harmonic

Harmonic Stock Performance

Harmonic stock opened at $12.59 on Thursday. The firm’s fifty day moving average price is $11.68 and its 200-day moving average price is $11.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.82 and a current ratio of 1.21. The stock has a market cap of $1.41 billion, a P/E ratio of 17.73 and a beta of 0.84. Harmonic has a fifty-two week low of $8.80 and a fifty-two week high of $18.43.

Harmonic (NASDAQ:HLITGet Free Report) last posted its quarterly earnings data on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $158.98 million. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.12 EPS.

Institutional Investors Weigh In On Harmonic

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its stake in shares of Harmonic by 582.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,781 shares of the communications equipment provider’s stock valued at $29,000 after purchasing an additional 1,520 shares in the last quarter. West Tower Group LLC bought a new stake in shares of Harmonic during the 2nd quarter valued at about $35,000. Belpointe Asset Management LLC boosted its stake in shares of Harmonic by 2,615.0% during the 1st quarter. Belpointe Asset Management LLC now owns 3,258 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 3,138 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Harmonic by 80.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,271 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake 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 purchasing an additional 3,110 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

Harmonic Company Profile

(Get Free Report)

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

Read More

Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.