Infinera Corp. (NASDAQ:INFN) – Equities researchers at William Blair dropped their Q3 2018 earnings estimates for Infinera in a note issued to investors on Wednesday, August 8th. William Blair analyst D. Netis now anticipates that the communications equipment provider will post earnings of ($0.12) per share for the quarter, down from their previous forecast of ($0.07). William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Infinera’s Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.36) EPS, Q1 2019 earnings at ($0.09) EPS and FY2019 earnings at ($0.01) EPS.
INFN has been the topic of a number of other research reports. ValuEngine raised Infinera from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. B. Riley dropped their price objective on Infinera from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, August 8th. BidaskClub lowered Infinera from a “strong-buy” rating to a “buy” rating in a report on Friday, May 18th. MKM Partners dropped their price objective on Infinera to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, July 24th. Finally, Drexel Hamilton set a $13.00 price objective on Infinera and gave the stock a “buy” rating in a report on Thursday, May 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Infinera currently has a consensus rating of “Hold” and a consensus target price of $10.97.
Infinera (NASDAQ:INFN) last released its earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The business had revenue of $208.23 million for the quarter, compared to analyst estimates of $208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. During the same quarter in the previous year, the company posted ($0.15) earnings per share.
Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC grew its holdings in Infinera by 2,170.9% in the fourth quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock valued at $101,000 after purchasing an additional 15,196 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Infinera in the first quarter valued at $123,000. Xact Kapitalforvaltning AB acquired a new stake in Infinera in the fourth quarter valued at $130,000. Zeke Capital Advisors LLC acquired a new stake in Infinera in the first quarter valued at $134,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Infinera by 100.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock valued at $155,000 after purchasing an additional 7,800 shares during the last quarter. 83.62% of the stock is currently owned by hedge funds and other institutional investors.
Infinera Company Profile
Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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