Zacks: Brokerages Anticipate Infinera Co. (NASDAQ:INFN) Will Announce Earnings of -$0.04 Per Share

Wall Street brokerages predict that Infinera Co. (NASDAQ:INFN) will post earnings per share of ($0.04) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Infinera’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.05). Infinera reported earnings of $0.02 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 300%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Infinera will report full year earnings of ($0.06) per share for the current fiscal year, with EPS estimates ranging from ($0.12) to ($0.01). For the next financial year, analysts forecast that the company will report earnings of $0.29 per share, with EPS estimates ranging from $0.15 to $0.40. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Infinera.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Monday, August 2nd. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $338.23 million during the quarter, compared to the consensus estimate of $344.17 million. Infinera had a negative return on equity of 6.34% and a negative net margin of 9.52%. During the same period in the previous year, the company posted ($0.09) EPS.

A number of research analysts have recently weighed in on INFN shares. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a research report on Tuesday, August 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Infinera in a research report on Monday, May 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Infinera currently has a consensus rating of “Hold” and a consensus target price of $11.00.

In related news, SVP Nicholas Walden sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $8.66, for a total value of $25,980.00. Following the transaction, the senior vice president now directly owns 24,497 shares of the company’s stock, valued at approximately $212,144.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christine Bucklin sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $9.96, for a total value of $229,080.00. Following the completion of the transaction, the director now directly owns 20,392 shares in the company, valued at $203,104.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,447 shares of company stock worth $258,855. 2.03% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in INFN. IFP Advisors Inc bought a new stake in Infinera in the first quarter worth $59,000. Robertson Stephens Wealth Management LLC bought a new stake in Infinera in the second quarter worth $102,000. Pinz Capital Management LP bought a new stake in Infinera in the second quarter worth $106,000. Jump Financial LLC bought a new stake in Infinera in the second quarter worth $115,000. Finally, Hexagon Capital Partners LLC increased its position in Infinera by 44.0% during the second quarter. Hexagon Capital Partners LLC now owns 11,518 shares of the communications equipment provider’s stock valued at $117,000 after acquiring an additional 3,518 shares during the last quarter. Institutional investors own 92.76% of the company’s stock.

Shares of Infinera stock traded down $0.10 during trading hours on Monday, reaching $8.37. 2,014,247 shares of the stock traded hands, compared to its average volume of 2,236,576. The company has a 50 day moving average price of $9.06 and a 200 day moving average price of $9.48. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -12.88 and a beta of 1.20. Infinera has a one year low of $5.78 and a one year high of $11.51. The company has a quick ratio of 1.24, a current ratio of 1.78 and a debt-to-equity ratio of 1.22.

Infinera Company Profile

Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.

Recommended Story: S&P/ASX 200 Index

Get a free copy of the Zacks research report on Infinera (INFN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Infinera (NASDAQ:INFN)

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.