Q4 Earnings Forecast for Harmonic Issued By Northland Capmk

Harmonic Inc. (NASDAQ:HLIT - Free Report) - Investment analysts at Northland Capmk lowered their Q4 2024 earnings per share (EPS) estimates for shares of Harmonic in a research report issued on Tuesday, October 29th. Northland Capmk analyst T. Savageaux now anticipates that the communications equipment provider will earn $0.29 per share for the quarter, down from their previous forecast of $0.31. The consensus estimate for Harmonic's current full-year earnings is $0.44 per share. Northland Capmk also issued estimates for Harmonic's Q3 2025 earnings at $0.16 EPS and Q4 2025 earnings at $0.21 EPS.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its earnings results 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 the consensus estimate of $181.77 million. Harmonic had a return on equity of 0.27% and a net margin of 10.22%. The company's revenue was up 53.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share.

Several other research analysts have also commented on the company. Rosenblatt Securities lowered their price target on Harmonic from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday. Raymond James downgraded Harmonic from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $17.00 to $14.00 in a report on Tuesday. Barclays reduced their price objective on Harmonic from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday. Jefferies Financial Group downgraded Harmonic from a "buy" rating to a "hold" rating and cut their target price for the stock from $14.00 to $12.50 in a research note on Tuesday. Finally, Northland Securities lowered their price target on Harmonic from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.25.

Harmonic Price Performance

Shares of Harmonic stock traded down $0.49 during mid-day trading on Thursday, reaching $11.09. 2,245,331 shares of the stock traded hands, compared to its average volume of 1,532,674. Harmonic has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.29 billion, a PE ratio of 15.19 and a beta of 0.87. The business has a 50-day moving average of $13.95 and a 200 day moving average of $12.57.

Institutional Investors Weigh In On Harmonic

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Harmonic by 1.7% in the first quarter. Vanguard Group Inc. now owns 9,852,064 shares of the communications equipment provider's stock worth $132,412,000 after buying an additional 166,018 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Harmonic by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider's stock valued at $44,043,000 after acquiring an additional 294,922 shares during the period. Leeward Investments LLC MA boosted its holdings in Harmonic by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,975,966 shares of the communications equipment provider's stock valued at $23,257,000 after acquiring an additional 105,162 shares during the period. Clearline Capital LP boosted its holdings in Harmonic by 777.6% during the second quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider's stock valued at $18,484,000 after acquiring an additional 1,391,504 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of Harmonic by 1,276.3% in the first quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider's stock valued at $16,172,000 after buying an additional 1,115,870 shares during the period. Institutional investors own 99.38% of the company's stock.

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.