Infinera Corp. Expected to Post Q3 2018 Earnings of ($0.11) Per Share (INFN)

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Infinera Corp. (NASDAQ:INFN) – Stock analysts at Piper Jaffray Companies issued their Q3 2018 earnings per share (EPS) estimates for Infinera in a research report issued on Wednesday, August 8th. Piper Jaffray Companies analyst T. Jensen expects that the communications equipment provider will post earnings of ($0.11) per share for the quarter. Piper Jaffray Companies currently has a “Neutral” rating and a $12.00 target price on the stock. Piper Jaffray Companies also issued estimates for Infinera’s Q4 2018 earnings at ($0.05) EPS and FY2018 earnings at ($0.32) EPS.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Infinera had a negative net margin of 19.95% and a negative return on equity of 13.09%. The firm had revenue of $208.23 million for the quarter, compared to the consensus estimate of $208.96 million. During the same period in the previous year, the company earned ($0.15) earnings per share.

Several other research firms also recently commented on INFN. B. Riley downgraded shares of Infinera from a “buy” rating to a “neutral” rating and upped their price objective for the company from $11.00 to $13.00 in a report on Tuesday, May 8th. JPMorgan Chase & Co. began coverage on shares of Infinera in a report on Thursday, May 3rd. They issued a “neutral” rating and a $13.00 price objective on the stock. BidaskClub upgraded shares of Infinera from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. ValuEngine upgraded shares of Infinera from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Drexel Hamilton set a $13.00 price objective on shares of Infinera and gave the company a “buy” rating in a report on Thursday, May 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $10.97.

Infinera opened at $8.61 on Monday, Marketbeat reports. Infinera has a one year low of $6.10 and a one year high of $12.39. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -10.37 and a beta of 0.25.

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Infinera by 10.1% in the second quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock valued at $137,084,000 after acquiring an additional 1,265,072 shares in the last quarter. BlackRock Inc. grew its stake in shares of Infinera by 12.5% in the second quarter. BlackRock Inc. now owns 10,961,436 shares of the communications equipment provider’s stock valued at $108,849,000 after acquiring an additional 1,222,230 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Infinera by 0.6% in the second quarter. Fisher Asset Management LLC now owns 5,966,448 shares of the communications equipment provider’s stock valued at $59,247,000 after acquiring an additional 37,172 shares in the last quarter. Eagle Asset Management Inc. grew its stake in shares of Infinera by 1.4% in the first quarter. Eagle Asset Management Inc. now owns 3,972,245 shares of the communications equipment provider’s stock valued at $43,138,000 after acquiring an additional 55,936 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Infinera by 3.0% in the first quarter. Frontier Capital Management Co. LLC now owns 3,622,007 shares of the communications equipment provider’s stock valued at $39,335,000 after acquiring an additional 106,758 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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Earnings History and Estimates for Infinera (NASDAQ:INFN)

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