Harmonic (NASDAQ:HLIT) Announces Earnings Results, Beats Expectations By $0.01 EPS

Harmonic (NASDAQ:HLIT - Get Free Report) issued its earnings results on Monday. The communications equipment provider reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.01, Zacks reports. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. Harmonic updated its FY 2025 guidance to 0.430-0.680 EPS and its Q1 2025 guidance to 0.020-0.080 EPS.

Harmonic Price Performance

Shares of HLIT stock traded up $0.28 during trading hours on Thursday, hitting $9.79. 1,724,746 shares of the company's stock were exchanged, compared to its average volume of 1,341,926. The stock's 50-day moving average is $12.47 and its 200-day moving average is $13.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 13.41 and a beta of 0.89. Harmonic has a 52 week low of $8.42 and a 52 week high of $15.46.

Analyst Ratings Changes

HLIT has been the topic of a number of research reports. Rosenblatt Securities dropped their target price on Harmonic from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday. StockNews.com raised Harmonic from a "hold" rating to a "buy" rating in a research report on Wednesday. Needham & Company LLC decreased their target price on Harmonic from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday. Northland Securities decreased their target price on Harmonic from $14.00 to $12.50 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group cut Harmonic from a "buy" rating to a "hold" rating and decreased their target price for the stock from $14.00 to $12.50 in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Harmonic currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

Harmonic declared that its board has initiated a stock repurchase program on Monday, February 10th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the communications equipment provider to repurchase up to 15.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Harmonic Company Profile

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.