-$0.04 EPS Expected for Infinera Corp. (INFN) This Quarter

Brokerages expect Infinera Corp. (NASDAQ:INFN) to announce earnings of ($0.04) per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Infinera’s earnings. The highest EPS estimate is ($0.03) and the lowest is ($0.05). Infinera reported earnings of ($0.15) per share in the same quarter last year, which would suggest a positive year over year growth rate of 73.3%. The firm is expected to issue its next earnings results on Thursday, August 2nd.

According to Zacks, analysts expect that Infinera will report full year earnings of ($0.10) per share for the current financial year, with EPS estimates ranging from ($0.12) to ($0.05). For the next fiscal year, analysts forecast that the firm will report earnings of $0.18 per share, with EPS estimates ranging from $0.07 to $0.30. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Infinera.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Wednesday, May 9th. The communications equipment provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. Infinera had a negative net margin of 23.48% and a negative return on equity of 15.84%. The business had revenue of $202.70 million for the quarter, compared to analysts’ expectations of $200.81 million. During the same period in the previous year, the company earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year.

Several research analysts recently weighed in on INFN shares. Rosenblatt Securities restated a “buy” rating and set a $13.00 price target on shares of Infinera in a report on Monday, April 16th. Northland Securities cut shares of Infinera from an “outperform” rating to a “market perform” rating in a report on Monday, March 19th. Morgan Stanley restated an “equal weight” rating and set a $9.50 price target (up from $8.00) on shares of Infinera in a report on Friday, March 9th. Citigroup restated a “hold” rating and set a $12.00 price target (up from $8.50) on shares of Infinera in a report on Friday, March 9th. Finally, BidaskClub cut shares of Infinera from a “buy” rating to a “hold” rating in a report on Friday, May 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $11.44.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. boosted its position in Infinera by 29.7% during the 1st quarter. First Mercantile Trust Co. now owns 34,740 shares of the communications equipment provider’s stock valued at $378,000 after buying an additional 7,956 shares during the period. State of Wisconsin Investment Board boosted its position in Infinera by 5.1% during the 4th quarter. State of Wisconsin Investment Board now owns 205,000 shares of the communications equipment provider’s stock valued at $1,298,000 after buying an additional 10,000 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Infinera in the 1st quarter worth about $123,000. Swiss National Bank lifted its position in shares of Infinera by 4.6% in the 1st quarter. Swiss National Bank now owns 258,400 shares of the communications equipment provider’s stock worth $2,806,000 after purchasing an additional 11,400 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Infinera by 21.1% in the 1st quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock worth $753,000 after purchasing an additional 12,098 shares during the period. 83.62% of the stock is owned by institutional investors and hedge funds.

Infinera stock traded up $0.29 during midday trading on Thursday, hitting $9.85. 1,043,400 shares of the stock were exchanged, compared to its average volume of 1,600,280. Infinera has a 52-week low of $6.10 and a 52-week high of $12.39. The stock has a market cap of $1.42 billion, a PE ratio of -11.87 and a beta of 0.35.

About Infinera

Infinera Corporation provides optical transport networking solutions, 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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Latest News

Foxconn Launches Investigation After Reports Of Harsh Working Conditions At Its Factory Foxconn has announced that it has launched investigations into allegations of harsh working conditions at its factory. The company made the announcement after China Labor Watch, which is based in the New York, published a report that indicated Amazon’s workers were being subjected to many hours of work, inadequate training, low wages as well as over dependence on temporary workers. Undercover investigation Before compiling the report, an investigator from China Labor Watch went underground and acted as a worker in the factory. He then interviewed 20 workers, as well as took time to observe the conditions. During the period of investigation, the undercover investigator secured a position in the factory to clean Echo Dot speakers using a toothbrush soaked in rubbing alcohol to remove dust.  In its investigation, China Labor Watch said around 40% of the employees at the factory were on temporary basis. This is far beyond the 10% that is legally allowed under the Chinese law. Additionally, the investigation also found out that dispatch employees were paid at the same rate for both regular and overtime hours.  According to the investigation, the company was paying dispatch workers $2.26 per hour. Additionally, workers were working over 100 hours in over time every month during peak season. This is way beyond the 36 hours of overtime allowed under the law. Additionally, some workers worked for 14 consecutive days.   Amazon’s audit  In its response, Amazon said it carried out an audit of the factory and found that dispatch workers and overtime are matters of great concern. Amazon in a statement, said following the revelation, it requested Foxconn to put in place a corrective plan. Amazon said it is currently monitoring the response from Foxconn as well as the compliance with its Supplier Code of Conduct. Amazon expressed its commitment to ensuring that the matter is fully resolved.  Echo Speakers Amazon, which is the largest online retailer in the world, sells a variety of devices. The company uses tablets and kindles to sell more digital books.   Foxconn, which is based in Taiwan is the largest manufacturer of contract electronics in the world and has a headcount of over a million people. The company, which makes Apple iPhones made headlines following as series of suicides at its plant. The suicides were linked to poor working conditions at the plant to which the company responded with a promise to improve the working conditions.
Foxconn Launches Investigation After Reports Of Harsh Working Conditions At Its Factory Foxconn has announced that it has launched investigations into allegations of harsh working conditions at its factory. The company made the announcement after China Labor Watch, which is based in the New York, published a report that indicated Amazon’s workers were being subjected to many hours of work, inadequate training, low wages as well as over dependence on temporary workers. Undercover investigation Before compiling the report, an investigator from China Labor Watch went underground and acted as a worker in the factory. He then interviewed 20 workers, as well as took time to observe the conditions. During the period of investigation, the undercover investigator secured a position in the factory to clean Echo Dot speakers using a toothbrush soaked in rubbing alcohol to remove dust. In its investigation, China Labor Watch said around 40% of the employees at the factory were on temporary basis. This is far beyond the 10% that is legally allowed under the Chinese law. Additionally, the investigation also found out that dispatch employees were paid at the same rate for both regular and overtime hours. According to the investigation, the company was paying dispatch workers $2.26 per hour. Additionally, workers were working over 100 hours in over time every month during peak season. This is way beyond the 36 hours of overtime allowed under the law. Additionally, some workers worked for 14 consecutive days. Amazon’s audit In its response, Amazon said it carried out an audit of the factory and found that dispatch workers and overtime are matters of great concern. Amazon in a statement, said following the revelation, it requested Foxconn to put in place a corrective plan. Amazon said it is currently monitoring the response from Foxconn as well as the compliance with its Supplier Code of Conduct. Amazon expressed its commitment to ensuring that the matter is fully resolved. Echo Speakers Amazon, which is the largest online retailer in the world, sells a variety of devices. The company uses tablets and kindles to sell more digital books. Foxconn, which is based in Taiwan is the largest manufacturer of contract electronics in the world and has a headcount of over a million people. The company, which makes Apple iPhones made headlines following as series of suicides at its plant. The suicides were linked to poor working conditions at the plant to which the company responded with a promise to improve the working conditions.

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