Analysts Anticipate Harmonic Inc. (HLIT) Will Announce Quarterly Sales of $88.27 Million

Wall Street analysts forecast that Harmonic Inc. (NASDAQ:HLIT) will report sales of $88.27 million for the current quarter, Zacks reports. Three analysts have made estimates for Harmonic’s earnings, with estimates ranging from $86.40 million to $91.00 million. Harmonic posted sales of $82.94 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.4%. The company is scheduled to issue its next earnings report after the market closes on Monday, April 30th.

According to Zacks, analysts expect that Harmonic will report full-year sales of $402.57 million for the current year, with estimates ranging from $386.90 million to $425.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $436.55 million per share, with estimates ranging from $431.90 million to $441.20 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Harmonic.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings results on Wednesday, February 28th. The communications equipment provider reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). Harmonic had a negative return on equity of 17.41% and a negative net margin of 23.16%. The company had revenue of $100.97 million for the quarter, compared to analysts’ expectations of $96.47 million.

Several equities research analysts have recently commented on HLIT shares. Zacks Investment Research cut Harmonic from a “hold” rating to a “sell” rating in a research note on Thursday, March 15th. BidaskClub cut Harmonic from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $5.06.

Harmonic stock opened at $3.75 on Monday. Harmonic has a 12 month low of $2.80 and a 12 month high of $6.03. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57.

In other Harmonic news, CEO Patrick Harshman sold 35,581 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $3.53, for a total value of $125,600.93. Following the completion of the transaction, the chief executive officer now owns 708,160 shares in the company, valued at $2,499,804.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Neven Haltmayer sold 10,198 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $3.53, for a total value of $35,998.94. Following the completion of the transaction, the insider now owns 94,609 shares of the company’s stock, valued at approximately $333,969.77. The disclosure for this sale can be found here. Insiders sold 56,234 shares of company stock valued at $198,506 in the last quarter. 4.27% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in Harmonic by 298.0% in the fourth quarter. Millennium Management LLC now owns 230,244 shares of the communications equipment provider’s stock worth $967,000 after acquiring an additional 172,396 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Harmonic by 11.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 226,481 shares of the communications equipment provider’s stock worth $951,000 after acquiring an additional 24,167 shares in the last quarter. Teachers Advisors LLC raised its position in Harmonic by 23.3% in the fourth quarter. Teachers Advisors LLC now owns 178,384 shares of the communications equipment provider’s stock worth $749,000 after acquiring an additional 33,680 shares in the last quarter. Two Sigma Investments LP raised its position in Harmonic by 18.2% in the fourth quarter. Two Sigma Investments LP now owns 227,107 shares of the communications equipment provider’s stock worth $954,000 after acquiring an additional 35,007 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Harmonic by 103.1% in the fourth quarter. Deutsche Bank AG now owns 177,581 shares of the communications equipment provider’s stock valued at $744,000 after purchasing an additional 90,125 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

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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 and Estimates for Harmonic (NASDAQ:HLIT)

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