Harmonic (HLIT) Set to Announce Earnings on Monday

Harmonic (NASDAQ:HLIT) will be posting its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Harmonic to post earnings of ($0.01) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.12 EPS. On average, analysts expect Harmonic to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Harmonic Price Performance

HLIT stock opened at $9.20 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $12.25 and its 200 day moving average is $11.74. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. Harmonic has a 1-year low of $8.80 and a 1-year high of $18.43.

Analyst Ratings Changes

Several research analysts recently weighed in on HLIT shares. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a research report on Wednesday, April 17th. StockNews.com upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Rosenblatt Securities decreased their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Raymond James decreased their price objective on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, January 30th. Finally, TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Harmonic currently has a consensus rating of “Buy” and an average target price of $17.20.

Insider Transactions at Harmonic

In related news, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the sale, the senior vice president now owns 181,864 shares of the company’s stock, valued at $2,105,985.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Nimrod Ben-Natan sold 100,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the sale, the senior vice president now owns 302,214 shares of the company’s stock, valued at $3,901,582.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the sale, the senior vice president now directly owns 181,864 shares of the company’s stock, valued at approximately $2,105,985.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,000 shares of company stock worth $1,917,122. Insiders own 2.20% of the company’s stock.

Harmonic Company Profile

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.