Harmonic (HLIT) Projected to Post Quarterly Earnings on Monday

Harmonic (NASDAQ:HLIT) is anticipated to post its quarterly earnings results before the market opens on Monday, February 3rd. Analysts expect Harmonic to post earnings of $0.37 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The firm had revenue of $195.80 million for the quarter, compared to analyst estimates of $181.77 million. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The company’s revenue was up 53.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. On average, analysts expect Harmonic to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Harmonic Stock Performance

NASDAQ:HLIT opened at $11.84 on Monday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 16.22 and a beta of 0.91. Harmonic has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. The stock has a fifty day moving average price of $12.86 and a 200-day moving average price of $13.21.

Analyst Upgrades and Downgrades

HLIT has been the topic of a number of analyst reports. Rosenblatt Securities reduced their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Barclays downgraded shares of Harmonic from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $17.00 to $14.00 in a research report on Thursday, January 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Finally, Northland Securities lowered their price target on Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.75.

About Harmonic

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.