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.
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.
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