Harmonic (HLIT) Announces Earnings Results

Harmonic (NASDAQ:HLIT) announced its quarterly earnings data on Monday. The communications equipment provider reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03, MarketWatch Earnings reports. The business had revenue of $101.40 million for the quarter, compared to analysts’ expectations of $99.46 million. Harmonic had a negative net margin of 11.52% and a negative return on equity of 5.68%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Harmonic updated its Q4 2018 guidance to $0.01-0.07 EPS and its FY 2018 guidance to $0.09-0.16 EPS.

Shares of NASDAQ:HLIT traded down $0.29 during trading on Tuesday, reaching $5.28. 9,901 shares of the stock traded hands, compared to its average volume of 285,408. Harmonic has a 52-week low of $2.80 and a 52-week high of $5.93. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.57. The stock has a market cap of $468.01 million, a price-to-earnings ratio of -9.96 and a beta of 0.70.

HLIT has been the topic of a number of recent research reports. Loop Capital initiated coverage on shares of Harmonic in a report on Thursday, September 20th. They issued a “buy” rating and a $8.25 price objective on the stock. Zacks Investment Research cut shares of Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. BidaskClub cut shares of Harmonic from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. Northland Securities set a $7.00 price target on shares of Harmonic and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, ValuEngine cut shares of Harmonic from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $6.50.

Harmonic Company Profile

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Earnings History for Harmonic (NASDAQ:HLIT)

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