Brokerages Anticipate Infinera Corp. (INFN) Will Announce Quarterly Sales of $181.31 Million

Equities analysts expect Infinera Corp. (NASDAQ:INFN) to post sales of $181.31 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Infinera’s earnings, with the lowest sales estimate coming in at $178.00 million and the highest estimate coming in at $185.30 million. Infinera reported sales of $175.52 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The company is expected to issue its next quarterly earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that Infinera will report full-year sales of $181.31 million for the current year, with estimates ranging from $774.20 million to $851.10 million. For the next fiscal year, analysts forecast that the firm will post sales of $857.53 million per share, with estimates ranging from $837.59 million to $877.47 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Infinera.

Infinera (NASDAQ:INFN) last issued its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. Infinera had a negative net margin of 26.26% and a negative return on equity of 16.77%. The company had revenue of $195.82 million for the quarter, compared to the consensus estimate of $190.26 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year.

INFN has been the topic of several recent analyst reports. Citigroup upgraded shares of Infinera from a “sell” rating to a “neutral” rating and set a $10.00 target price on the stock in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. ValuEngine downgraded shares of Infinera from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. B. Riley reiterated a “buy” rating and set a $12.00 price target (down previously from $14.00) on shares of Infinera in a research report on Tuesday, November 7th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $9.00 price target (down previously from $10.00) on shares of Infinera in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. Infinera currently has a consensus rating of “Hold” and an average price target of $11.27.

Shares of Infinera (NASDAQ INFN) opened at $9.33 on Friday. Infinera has a 52 week low of $6.10 and a 52 week high of $12.50. The company has a market cap of $1,450.00, a price-to-earnings ratio of -7.12 and a beta of 1.24.

In related news, CEO Thomas J. Fallon purchased 100,000 shares of Infinera stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average price of $6.33 per share, for a total transaction of $633,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in Infinera by 34.0% during the 4th quarter. Bank of New York Mellon Corp now owns 11,998,458 shares of the communications equipment provider’s stock worth $75,950,000 after purchasing an additional 3,043,892 shares during the last quarter. Vanguard Group Inc. raised its holdings in Infinera by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,785,059 shares of the communications equipment provider’s stock worth $125,746,000 after purchasing an additional 369,519 shares during the last quarter. BlackRock Inc. raised its holdings in Infinera by 2.8% during the 2nd quarter. BlackRock Inc. now owns 9,844,377 shares of the communications equipment provider’s stock worth $105,040,000 after purchasing an additional 268,912 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Infinera by 22.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,089,914 shares of the communications equipment provider’s stock worth $54,018,000 after purchasing an additional 1,126,763 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Infinera by 17.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,642,887 shares of the communications equipment provider’s stock worth $41,182,000 after purchasing an additional 675,584 shares during the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://sportsperspectives.com/2018/02/10/brokerages-anticipate-infinera-corp-infn-will-announce-quarterly-sales-of-181-31-million.html.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Get a free copy of the Zacks research report on Infinera (INFN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Latest News

Leave a Reply