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.
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.
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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