Wall Street analysts forecast that Harmonic Inc (NASDAQ:HLIT) will post $0.22 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Harmonic’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.22. Harmonic posted earnings of $0.04 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 450%. The business is scheduled to announce its next earnings report after the market closes on Monday, October 28th.

According to Zacks, analysts expect that Harmonic will report full-year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.16 to $0.19. For the next fiscal year, analysts forecast that the business will report earnings of $0.29 per share, with EPS estimates ranging from $0.20 to $0.39. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Harmonic.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, July 29th. The communications equipment provider reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. The company had revenue of $84.87 million during the quarter, compared to the consensus estimate of $85.07 million. Harmonic had a negative return on equity of 3.72% and a negative net margin of 7.27%. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS.

HLIT has been the subject of a number of analyst reports. Raymond James lifted their price target on Harmonic from $6.75 to $9.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, October 9th. Northland Securities reiterated a “buy” rating on shares of Harmonic in a research note on Wednesday, July 10th. ValuEngine downgraded Harmonic from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Harmonic in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $9.00.

In other Harmonic news, SVP Neven Haltmayer sold 90,000 shares of Harmonic stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $7.24, for a total transaction of $651,600.00. Following the completion of the transaction, the senior vice president now owns 159,813 shares in the company, valued at approximately $1,157,046.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Aperio Group LLC bought a new position in shares of Harmonic during the 2nd quarter worth approximately $29,000. Quantamental Technologies LLC bought a new position in shares of Harmonic during the 2nd quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its position in shares of Harmonic by 562.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,444 shares of the communications equipment provider’s stock worth $47,000 after buying an additional 7,170 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Harmonic by 308,766.7% during the 2nd quarter. Bank of Montreal Can now owns 9,266 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 9,263 shares in the last quarter. Finally, Laurion Capital Management LP bought a new position in shares of Harmonic during the 2nd quarter worth approximately $77,000. 89.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of HLIT traded up $0.05 during trading hours on Monday, hitting $6.59. The stock had a trading volume of 276,481 shares, compared to its average volume of 604,513. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $6.51 and a 200-day simple moving average of $6.25. The firm has a market capitalization of $586.05 million, a P/E ratio of 219.67, a price-to-earnings-growth ratio of 10.24 and a beta of 0.87. Harmonic has a 1-year low of $4.48 and a 1-year high of $8.09.

About Harmonic

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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