Wall Street analysts predict that Infinera Corp. (NASDAQ:INFN) will report $331.27 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Infinera’s earnings, with estimates ranging from $329.90 million to $335.00 million. Infinera reported sales of $200.41 million during the same quarter last year, which indicates a positive year-over-year growth rate of 65.3%. The company is expected to issue its next earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Infinera will report full-year sales of $1.29 billion for the current year, with estimates ranging from $1.28 billion to $1.31 billion. For the next financial year, analysts expect that the firm will report sales of $1.41 billion, with estimates ranging from $1.37 billion to $1.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Infinera.
Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.24) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.11. The firm had revenue of $296.25 million during the quarter, compared to the consensus estimate of $300.40 million. Infinera had a negative return on equity of 27.60% and a negative net margin of 35.53%. The firm’s revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS.
INFN has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Infinera in a research note on Monday, September 30th. B. Riley increased their target price on Infinera from $6.50 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Stifel Nicolaus set a $6.00 target price on Infinera and gave the stock a “hold” rating in a research note on Thursday, September 12th. Rosenblatt Securities reissued a “hold” rating and set a $4.00 target price on shares of Infinera in a research note on Thursday, August 8th. Finally, ValuEngine downgraded Infinera from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.23.
Shares of INFN stock traded down $0.06 during trading hours on Friday, reaching $5.33. 965,125 shares of the company’s stock were exchanged, compared to its average volume of 1,762,891. The company has a market cap of $967.86 million, a P/E ratio of -8.32 and a beta of 0.61. The company’s 50 day moving average is $5.31 and its two-hundred day moving average is $4.14. Infinera has a 1 year low of $2.80 and a 1 year high of $6.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.54 and a quick ratio of 0.91.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Infinera by 0.6% in the 1st quarter. FMR LLC now owns 26,354,780 shares of the communications equipment provider’s stock worth $114,380,000 after acquiring an additional 150,000 shares during the period. Divisar Capital Management LLC grew its holdings in shares of Infinera by 6.6% in the 2nd quarter. Divisar Capital Management LLC now owns 3,313,674 shares of the communications equipment provider’s stock worth $9,643,000 after acquiring an additional 206,432 shares during the period. Northern Trust Corp grew its holdings in shares of Infinera by 3.0% in the 2nd quarter. Northern Trust Corp now owns 1,855,665 shares of the communications equipment provider’s stock worth $5,400,000 after acquiring an additional 53,814 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in shares of Infinera by 45.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,198,000 shares of the communications equipment provider’s stock worth $3,486,000 after acquiring an additional 373,700 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Infinera by 4.6% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 975,774 shares of the communications equipment provider’s stock worth $2,840,000 after acquiring an additional 43,194 shares during the period. Institutional investors and hedge funds own 79.14% of the company’s stock.
Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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