Harmonic (HLIT) Projected to Post Quarterly Earnings on Monday

Harmonic (NASDAQ:HLIT - Get Free Report) is expected 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. Investors that are interested in registering for the company's conference call can do so using this link.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.17 by $0.09. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The company had revenue of $195.80 million for the quarter, compared to analysts' expectations of $181.77 million. During the same period last year, the firm posted ($0.05) earnings per share. Harmonic's revenue was up 53.9% compared to the same quarter last year. 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 traded down $0.28 during mid-day trading on Monday, reaching $11.56. The company's stock had a trading volume of 1,309,827 shares, compared to its average volume of 1,018,664. The firm's fifty day moving average price is $12.86 and its two-hundred day moving average price is $13.21. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.35 billion, a P/E ratio of 15.84 and a beta of 0.91. Harmonic has a 12-month low of $9.10 and a 12-month high of $15.46.

Wall Street Analysts Forecast Growth

HLIT has been the topic of several research reports. Raymond James cut shares of Harmonic from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $17.00 to $14.00 in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. Rosenblatt Securities lowered their target price on Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, October 29th. Barclays downgraded Harmonic from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $17.00 to $14.00 in a research note on Thursday, January 9th. Finally, Jefferies Financial Group downgraded shares of Harmonic from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $14.00 to $12.50 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.