Infinera Corporation (INFN) Expected to Announce Earnings of -$0.16 Per Share
Wall Street brokerages forecast that Infinera Corporation (NASDAQ:INFN) will report earnings of ($0.16) per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Infinera Corporation’s earnings. The lowest EPS estimate is ($0.16) and the highest is ($0.15). Infinera Corporation posted earnings per share of $0.05 in the same quarter last year, which suggests a negative year-over-year growth rate of 420%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, November 8th.
On average, analysts expect that Infinera Corporation will report full-year earnings of ($0.56) per share for the current year, with EPS estimates ranging from ($0.59) to ($0.52). For the next year, analysts anticipate that the business will post earnings of ($0.08) per share, with EPS estimates ranging from ($0.32) to $0.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Infinera Corporation.
Infinera Corporation (NASDAQ:INFN) last issued its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The firm had revenue of $176.28 million for the quarter, compared to analyst estimates of $181.16 million. Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The business’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS.
A number of equities research analysts recently weighed in on INFN shares. Northland Securities set a $7.00 price target on shares of Infinera Corporation and gave the company a “hold” rating in a report on Tuesday, July 4th. Deutsche Bank AG lowered their price target on shares of Infinera Corporation from $12.50 to $12.00 and set a “buy” rating for the company in a report on Monday, August 7th. Craig Hallum started coverage on shares of Infinera Corporation in a report on Tuesday, July 18th. They set a “buy” rating and a $15.00 price objective for the company. Needham & Company LLC reissued a “strong-buy” rating and set a $13.00 price objective on shares of Infinera Corporation in a report on Thursday, August 31st. Finally, Zacks Investment Research raised shares of Infinera Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Infinera Corporation has an average rating of “Hold” and an average price target of $11.82.
Shares of Infinera Corporation (INFN) traded down 0.35% during trading on Friday, hitting $8.48. 380,503 shares of the company were exchanged. The stock’s market cap is $1.26 billion. Infinera Corporation has a 12 month low of $7.23 and a 12 month high of $12.50. The company’s 50-day moving average price is $8.58 and its 200 day moving average price is $9.74.
In other news, President David F. Welch sold 20,000 shares of Infinera Corporation stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total value of $180,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Infinera Corporation by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,785,059 shares of the communications equipment provider’s stock valued at $125,746,000 after buying an additional 369,519 shares during the period. BlackRock Inc. boosted its holdings in shares of Infinera Corporation by 2.8% in the 2nd quarter. BlackRock Inc. now owns 9,844,377 shares of the communications equipment provider’s stock valued at $105,040,000 after buying an additional 268,912 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Infinera Corporation by 33.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,793,110 shares of the communications equipment provider’s stock valued at $83,151,000 after buying an additional 1,949,576 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Infinera Corporation by 22.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,089,914 shares of the communications equipment provider’s stock valued at $54,018,000 after buying an additional 1,126,763 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Infinera Corporation by 19.1% in the 2nd quarter. Alliancebernstein L.P. now owns 5,961,108 shares of the communications equipment provider’s stock valued at $63,605,000 after buying an additional 957,416 shares during the period. 87.59% of the stock is owned by institutional investors and hedge funds.
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About Infinera Corporation
Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.
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