Harmonic (HLIT) to Release Quarterly Earnings on Monday

Harmonic (NASDAQ:HLIT) is set to post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Harmonic to post earnings of ($0.01) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $158.98 million. During the same period last year, the business earned $0.12 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. On average, analysts expect Harmonic to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Harmonic Price Performance

Shares of NASDAQ HLIT opened at $9.20 on Friday. Harmonic has a twelve month low of $8.80 and a twelve month high of $18.43. The firm has a market cap of $1.03 billion, a P/E ratio of 12.96 and a beta of 0.84. The company has a 50 day moving average of $12.34 and a 200 day moving average of $11.74. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

Analyst Upgrades and Downgrades

HLIT has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a report on Wednesday, April 17th. Rosenblatt Securities decreased their target price on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Raymond James decreased their target price on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Tuesday, January 30th. TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. Finally, StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $17.20.

Insider Buying and Selling

In related news, SVP Neven Haltmayer sold 24,695 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the transaction, the senior vice president now owns 181,864 shares of the company’s stock, valued at approximately $2,105,985.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Nimrod Ben-Natan sold 100,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the sale, the senior vice president now directly owns 302,214 shares in the company, valued at approximately $3,901,582.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Neven Haltmayer sold 24,695 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total transaction of $285,968.10. Following the completion of the sale, the senior vice president now directly owns 181,864 shares in the company, valued at $2,105,985.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,000 shares of company stock valued at $1,917,122. Company insiders own 2.20% of the company’s stock.

About Harmonic

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.