Harmonic (NASDAQ:HLIT) Issues Q4 2024 Earnings Guidance

Harmonic (NASDAQ:HLIT - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.330-0.390 for the period, compared to the consensus EPS estimate of 0.350. The company issued revenue guidance of $205.0 million-$220.0 million, compared to the consensus revenue estimate of $220.6 million. Harmonic also updated its FY 2024 guidance to 0.670-0.730 EPS.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Harmonic in a report on Tuesday, July 30th. Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 target price on shares of Harmonic in a report on Tuesday, October 15th. Finally, Barclays raised their price target on shares of Harmonic from $14.00 to $20.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $18.50.

Harmonic Trading Up 0.3 %

Shares of NASDAQ HLIT traded up $0.04 during trading hours on Monday, hitting $14.82. The company's stock had a trading volume of 2,631,115 shares, compared to its average volume of 1,494,908. The business has a 50-day simple moving average of $14.06 and a 200-day simple moving average of $12.57. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 24.70 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.32 and a current ratio of 1.87. Harmonic has a 12 month low of $9.10 and a 12 month high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its earnings results on Monday, July 29th. The communications equipment provider reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.04. The company had revenue of $138.70 million during the quarter, compared to the consensus estimate of $133.67 million. Harmonic had a return on equity of 0.27% and a net margin of 10.22%. The firm's revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, analysts anticipate that Harmonic will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Harmonic news, SVP Neven Haltmayer sold 40,000 shares of Harmonic stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.41, for a total transaction of $576,400.00. Following the sale, the senior vice president now directly owns 122,211 shares of the company's stock, valued at approximately $1,761,060.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company's stock.

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.

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