Zacks: Analysts Anticipate Infinera Co. (NASDAQ:INFN) Will Post Quarterly Sales of $344.17 Million

Equities analysts expect that Infinera Co. (NASDAQ:INFN) will post $344.17 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Infinera’s earnings. The lowest sales estimate is $338.50 million and the highest is $347.10 million. Infinera posted sales of $331.59 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.8%. The business is expected to report its next earnings results after the market closes on Tuesday, August 3rd.

On average, analysts expect that Infinera will report full-year sales of $1.43 billion for the current year, with estimates ranging from $1.42 billion to $1.44 billion. For the next financial year, analysts forecast that the business will report sales of $1.54 billion, with estimates ranging from $1.51 billion to $1.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Infinera.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Monday, May 3rd. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. Infinera had a negative net margin of 11.49% and a negative return on equity of 8.51%. The business had revenue of $330.91 million for the quarter, compared to the consensus estimate of $330.88 million. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis.

Several equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Infinera in a report on Monday, May 24th. Zacks Investment Research upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, July 8th. Northland Securities lifted their price objective on shares of Infinera from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, May 5th. Finally, Wolfe Research upgraded shares of Infinera from an “underperform” rating to a “peer perform” rating and set a $10.00 price objective on the stock in a research report on Thursday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $10.33.

In related news, Director Thomas J. Fallon sold 172,564 shares of the business’s stock in a transaction that occurred on Thursday, June 3rd. The stock was sold at an average price of $10.12, for a total transaction of $1,746,347.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Milbury sold 14,850 shares of the business’s stock in a transaction that occurred on Friday, May 28th. The stock was sold at an average price of $9.58, for a total value of $142,263.00. Following the sale, the director now owns 121,607 shares of the company’s stock, valued at approximately $1,164,995.06. The disclosure for this sale can be found here. Insiders have sold a total of 188,267 shares of company stock valued at $1,897,729 over the last three months. Corporate insiders own 2.82% of the company’s stock.

Several large investors have recently added to or reduced their stakes in INFN. Trustcore Financial Services LLC boosted its position in Infinera by 2,325.6% during the first quarter. Trustcore Financial Services LLC now owns 5,215 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,000 shares in the last quarter. IFP Advisors Inc purchased a new stake in Infinera during the first quarter worth $59,000. FDx Advisors Inc. purchased a new stake in Infinera during the first quarter worth $99,000. Private Trust Co. NA purchased a new stake in shares of Infinera in the first quarter valued at $107,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Infinera in the fourth quarter valued at $114,000. 90.57% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:INFN traded down $0.24 during trading hours on Monday, hitting $9.31. 5,637 shares of the stock traded hands, compared to its average volume of 1,452,722. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 1.16. Infinera has a 1 year low of $5.76 and a 1 year high of $11.51. The stock has a market capitalization of $1.91 billion, a P/E ratio of -11.79 and a beta of 1.18. The firm has a 50 day moving average of $9.86.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.

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