Equities research analysts forecast that Infinera Co. (NASDAQ:INFN – Get Rating) will report sales of $363.10 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Infinera’s earnings, with the lowest sales estimate coming in at $360.00 million and the highest estimate coming in at $368.20 million. Infinera reported sales of $330.91 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The firm is scheduled to announce its next earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Infinera will report full-year sales of $1.58 billion for the current fiscal year, with estimates ranging from $1.57 billion to $1.59 billion. For the next financial year, analysts anticipate that the company will report sales of $1.70 billion, with estimates ranging from $1.65 billion to $1.74 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Infinera.
Infinera (NASDAQ:INFN – Get Rating) last announced its quarterly earnings data on Wednesday, February 16th. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $400.26 million during the quarter, compared to analysts’ expectations of $386.17 million. Infinera had a negative net margin of 11.98% and a negative return on equity of 16.77%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share.
Several research analysts have commented on the stock. Rosenblatt Securities assumed coverage on shares of Infinera in a report on Wednesday, March 23rd. They set a “buy” rating and a $12.00 price target for the company. They set a “hold” rating for the company. B. Riley boosted their price target on shares of Infinera from $11.50 to $12.50 in a report on Thursday, February 17th. Zacks Investment Research upgraded shares of Infinera from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a report on Wednesday. Finally, Loop Capital initiated coverage on shares of Infinera in a report on Monday, February 14th. They set a “hold” rating and a $9.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Infinera currently has a consensus rating of “Hold” and a consensus target price of $10.22.
NASDAQ INFN opened at $7.70 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.62 and a debt-to-equity ratio of 1.47. Infinera has a 52 week low of $7.22 and a 52 week high of $10.89. The stock has a market capitalization of $1.64 billion, a PE ratio of -9.28 and a beta of 1.01. The firm has a 50 day moving average of $8.40 and a two-hundred day moving average of $8.49.
In related news, Director David F. Welch sold 150,000 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $9.05, for a total value of $1,357,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David F. Welch sold 200,000 shares of the company’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $9.14, for a total transaction of $1,828,000.00. In the last 90 days, insiders sold 354,882 shares of company stock valued at $3,229,829. Company insiders own 1.19% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Graypoint LLC purchased a new stake in Infinera in the 1st quarter valued at $110,000. Red Spruce Capital LLC raised its position in Infinera by 1.6% during the 1st quarter. Red Spruce Capital LLC now owns 89,154 shares of the communications equipment provider’s stock worth $773,000 after buying an additional 1,381 shares during the last quarter. Vident Investment Advisory LLC raised its position in Infinera by 268.8% during the 4th quarter. Vident Investment Advisory LLC now owns 42,910 shares of the communications equipment provider’s stock worth $412,000 after buying an additional 31,274 shares during the last quarter. Woodline Partners LP purchased a new position in Infinera during the 4th quarter worth $8,733,000. Finally, Autumn Glory Partners LLC purchased a new position in Infinera during the 4th quarter worth $96,000. Hedge funds and other institutional investors own 91.65% of the company’s stock.
About Infinera (Get Rating)
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.
