Harmonic (NASDAQ:HLIT) Issues FY21 Earnings Guidance

Harmonic (NASDAQ:HLIT) issued an update on its FY21 earnings guidance on Monday morning. The company provided EPS guidance of $0.06-$0.24 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.24. The company issued revenue guidance of $435-$480 million, compared to the consensus revenue estimate of $453.62 million.Harmonic also updated its FY 2021 guidance to 0.060-0.240 EPS.

Shares of HLIT traded up $0.29 during trading hours on Monday, reaching $8.11. 817,562 shares of the company traded hands, compared to its average volume of 661,089. The stock has a market capitalization of $819.82 million, a P/E ratio of -20.79, a P/E/G ratio of 2.32 and a beta of 0.83. The company has a quick ratio of 1.22, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. Harmonic has a 12-month low of $4.49 and a 12-month high of $9.20. The business has a fifty day moving average price of $8.05 and a 200-day moving average price of $7.45.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Sunday, January 31st. The communications equipment provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $131.53 million for the quarter, compared to analyst estimates of $126.28 million. Harmonic had a negative net margin of 10.06% and a negative return on equity of 7.13%. As a group, research analysts predict that Harmonic will post -0.15 EPS for the current fiscal year.

HLIT has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of Harmonic from $9.00 to $10.00 and gave the company a buy rating in a report on Tuesday, February 2nd. Needham & Company LLC upped their price target on shares of Harmonic from $9.00 to $9.50 and gave the company a buy rating in a report on Tuesday, February 2nd. Colliers Securities reaffirmed a buy rating and issued a $11.00 price target on shares of Harmonic in a report on Monday, March 8th. Raymond James raised shares of Harmonic to a buy rating in a report on Wednesday, February 3rd. Finally, Zacks Investment Research raised shares of Harmonic from a sell rating to a hold rating in a report on Wednesday, March 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Harmonic currently has a consensus rating of Buy and a consensus target price of $8.71.

In other Harmonic news, CEO Patrick Harshman sold 12,587 shares of the company’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $7.70, for a total value of $96,919.90. Following the completion of the transaction, the chief executive officer now owns 1,111,641 shares in the company, valued at $8,559,635.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Neven Haltmayer sold 80,000 shares of the company’s stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $9.00, for a total transaction of $720,000.00. Following the completion of the transaction, the senior vice president now owns 240,789 shares of the company’s stock, valued at approximately $2,167,101. The disclosure for this sale can be found here. In the last quarter, insiders sold 328,265 shares of company stock valued at $2,688,322. Insiders own 4.10% of the company’s stock.

About Harmonic

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. Its products enable customers to create, prepare, store, playout, and deliver a range of broadcast and streaming video services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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