Harmonic (HLIT) Projected to Post Quarterly Earnings on Monday

Harmonic (NASDAQ:HLIT) will likely be releasing its earnings data before the market opens on Monday, February 3rd. Analysts expect Harmonic to post earnings of $0.37 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.80 million for the quarter, compared to the consensus estimate of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The firm’s revenue for the quarter was up 53.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. On average, analysts expect Harmonic to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Harmonic Stock Performance

Shares of HLIT stock opened at $11.84 on Monday. The stock has a market cap of $1.38 billion, a P/E ratio of 16.22 and a beta of 0.91. The company has a fifty day moving average price of $12.86 and a two-hundred day moving average price of $13.21. Harmonic has a one year low of $9.10 and a one year high of $15.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62.

Wall Street Analyst Weigh In

A number of research firms recently commented on HLIT. Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and reduced their price target for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Raymond James downgraded Harmonic from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $17.00 to $14.00 in a research note on Tuesday, October 29th. Barclays cut Harmonic from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $14.00 in a research note on Thursday, January 9th. Rosenblatt Securities reduced their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Northland Securities dropped their price objective on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.75.

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.