Harmonic (NASDAQ:HLIT) issued its quarterly earnings data on Wednesday. The communications equipment provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03, Bloomberg Earnings reports. The firm had revenue of $101.00 million during the quarter, compared to the consensus estimate of $96.65 million. Harmonic had a negative net margin of 22.02% and a negative return on equity of 13.06%. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. Harmonic updated its Q4 guidance to ($0.10)-(0.01) EPS and its FY18 guidance to ($0.18)-0.25 EPS.
Harmonic (HLIT) opened at $3.02 on Thursday. Harmonic has a one year low of $2.80 and a one year high of $6.18. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 0.56.
HLIT has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Harmonic from a “hold” rating to a “strong-buy” rating and set a $4.25 price objective for the company in a research note on Friday, November 3rd. BidaskClub raised shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, ValuEngine raised shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.06.
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Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.
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