thoughts on these estimates, before EPS results? Harmonic (NASDAQ:HLIT)

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Earnings results for Harmonic (NASDAQ:HLIT)

Harmonic Inc. is expected* to report earnings on 10/26/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.09. The reported EPS for the same quarter last year was $0.21.

Harmonic last issued its quarterly earnings results on August 3rd, 2020. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07. The company earned $73.99 million during the quarter, compared to analyst estimates of $69.92 million. Its revenue was down 12.8% on a year-over-year basis. Harmonic has generated $0.18 earnings per share over the last year. Harmonic has confirmed that its next quarterly earnings report will be published on Monday, October 26th, 2020.

Analyst Opinion on Harmonic (NASDAQ:HLIT)

5 Wall Street analysts have issued ratings and price targets for Harmonic in the last 12 months. Their average twelve-month price target is $7.25, predicting that the stock has a possible upside of 2.55%. The high price target for HLIT is $9.00 and the low price target for HLIT is $6.00. There are currently 2 hold ratings and 3 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Harmonic has received a consensus rating of Buy. The company’s average rating score is 2.60, and is based on 3 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $7.25, Harmonic has a forecasted upside of 2.5% from its current price of $7.07. Harmonic has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: Harmonic (NASDAQ:HLIT)

Harmonic does not currently pay a dividend. Harmonic does not have a long track record of dividend growth.

Insiders buying/selling: Harmonic (NASDAQ:HLIT)

In the past three months, Harmonic insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $58,800.00 in company stock and sold $0.00 in company stock. Only 4.10% of the stock of Harmonic is held by insiders. 87.95% of the stock of Harmonic is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Harmonic (NASDAQ:HLIT

Earnings for Harmonic are expected to grow in the coming year, from ($0.20) to $0.20 per share. The P/E ratio of Harmonic is -33.67, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Harmonic is -33.67, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Harmonic has a P/B Ratio of 2.53. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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