Infinera Co. (NASDAQ:INFN) Receives $7.09 Consensus PT from Brokerages

Shares of Infinera Co. (NASDAQ:INFN) have earned an average recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.09.

INFN has been the topic of a number of analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $6.65 price target on shares of Infinera in a research note on Wednesday, November 6th. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, B. Riley cut Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INFN. Sand Grove Capital Management LLP bought a new stake in Infinera in the 3rd quarter valued at $12,517,000. Janus Henderson Group PLC lifted its holdings in shares of Infinera by 332.0% in the third quarter. Janus Henderson Group PLC now owns 350,520 shares of the communications equipment provider’s stock valued at $2,364,000 after purchasing an additional 269,372 shares in the last quarter. Water Island Capital LLC acquired a new position in shares of Infinera during the second quarter worth about $9,196,000. SG Americas Securities LLC bought a new position in shares of Infinera during the third quarter worth about $556,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Infinera by 22.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after buying an additional 2,025,658 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Price Performance

Infinera stock opened at $6.55 on Tuesday. The business’s 50-day simple moving average is $6.61 and its 200 day simple moving average is $6.43. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -13.65 and a beta of 1.64. Infinera has a 12-month low of $4.41 and a 12-month high of $6.92.

Infinera (NASDAQ:INFN) last issued its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, research analysts anticipate that Infinera will post -0.33 earnings per share for the current year.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.