Zacks: Brokerages Expect Infinera Co. (NASDAQ: INFN) to Report Earnings Per Share of $ 0.04
Equity research analysts predict that Infinera Co. (NASDAQ: INFN) will post earnings of ($ 0.04) per share for the current fiscal quarter, according to Zacks. Five analysts provided revenue estimates for Infinera, with estimates ranging from ($ 0.05) to $ 0.00. Infinera reported earnings per share of $ 0.02 in the same quarter last year, indicating a negative growth rate of 300% year-over-year. The company is expected to release its next earnings report on Thursday, November 4.
According to Zacks, analysts expect Infinera to report annual earnings of ($ 0.06) per share for the current year, with EPS estimates ranging from $ 0.12 to $ 0.01. For the next fiscal year, analysts expect the company to report earnings of $ 0.29 per share, with EPS estimates ranging from $ 0.15 to $ 0.40. Zacks Investment Research’s EPS averages are an average based on a survey of analysts who cover Infinera.
Infinera (NASDAQ: INFN) last reported its results on Monday, August 2. The communications equipment vendor reported ($ 0.03) BPA for the quarter, beating the Zacks’ consensus estimate of ($ 0.05) by $ 0.02. Infinera had a negative net margin of 9.52% and a negative return on equity of 6.34%. In the same quarter of the previous year, the company posted ($ 0.09) EPS.
A number of analysts weighed on the title. Wolfe Research Upgraded Infinera Shares From An “Underperformance” Rating To A “Peer Performance” Rating And Set A Price Target Of $ 10.00 For The Company In A Research Note Thursday May 13. Northland Securities raised its price target for Infinera shares from $ 6.00 to $ 7.00 and gave the company a “market performance” rating in a research report released on Wednesday, May 5. Needham & Company LLC reiterated a “buy” note and set a target price of $ 15.00 on Infinera shares in a research note on Monday, May 24. Finally, Zacks Investment Research downgraded Infinera from a “hold” rating to a “sell” rating in a report released on Friday, August 6. One analyst rated the stock with a sell rating, four issued a conservation rating, and two assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $ 11.00.
INFN opened at $ 8.75 on Wednesday. The stock has a market cap of $ 1.83 billion, a price-to-earnings ratio of -13.46 and a beta of 1.23. The stock has a 50-day moving average of $ 9.68. Infinera has a one-year low of $ 5.76 and a one-year high of $ 11.51. The company has a current ratio of 1.78, a quick ratio of 1.24 and a debt ratio of 1.22.
In other Infinera news, director Paul J. Milbury sold 14,850 shares in a trade on Friday, May 28. The stock was sold for an average price of $ 9.58, for a total value of $ 142,263.00. As a result of the sale, the director now owns 121,607 shares of the company, valued at $ 1,164,995.06. The transaction was disclosed in a legal file with the SEC, which can be accessed through the SEC’s website. In addition, director Thomas J. Fallon sold 172,564 shares of the company in a trade on Thursday, June 3. The stock was sold for an average price of $ 10.12, for a total value of $ 1,746,347.68. Disclosure of this sale can be found here. Insiders have sold a total of 214,714 shares of the company valued at $ 2,156,584 in the past 90 days. 2.03% of the shares are currently held by insiders of the company.
A number of institutional investors and hedge funds have recently bought and sold shares in the company. Commonwealth Equity Services LLC increased its stake in Infinera by 7.3% in the first quarter. Commonwealth Equity Services LLC now owns 22,474 shares of the communications equipment supplier valued at $ 216,000 after acquiring an additional 1,530 shares in the last quarter. Arizona State Retirement System strengthened its position in Infinera by 3.4% during the 1st quarter. Arizona State Retirement System now owns 50,583 shares of the communications equipment supplier valued at $ 487,000 after purchasing an additional 1,675 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Infinera by 8.1% in the second quarter. Principal Financial Group Inc. now owns 28,450 shares of the communications equipment supplier valued at $ 290,000 after acquiring 2,133 additional shares in the last quarter. ProShare Advisors LLC increased its stake in Infinera shares by 5.3% during the second quarter. ProShare Advisors LLC now owns 46,165 shares of the communications equipment supplier valued at $ 471,000 after acquiring 2,319 additional shares in the last quarter. Finally, Quantitative Investment Management LLC increased its stake in Infinera shares by 7.3% during the first quarter. Quantitative Investment Management LLC now owns 35,796 shares of the communications equipment supplier valued at $ 344,000 after acquiring 2,445 additional shares in the last quarter. Institutional investors hold 86.28% of the shares of the company.
Infinera Company Profile
Infinera Corp. engages in providing networking solutions, which consist of networking equipment, software and services. It operates through the following geographic segments: United States, other Americas, Europe, Middle East and Africa, and Asia-Pacific and Japan. Its products include control and automation, network routers, optical packets and compact modular modules.
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