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