Equities research analysts expect that Infinera Co. (NASDAQ:INFN) will post sales of $355.99 million for the current quarter, according to Zacks. Five analysts have provided estimates for Infinera’s earnings. The highest sales estimate is $357.80 million and the lowest is $354.50 million. Infinera posted sales of $340.21 million during the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The company is scheduled to report its next quarterly earnings results on Thursday, November 4th.
According to Zacks, analysts expect that Infinera will report full-year sales of $1.41 billion for the current year, with estimates ranging from $1.40 billion to $1.42 billion. For the next year, analysts anticipate that the firm will report sales of $1.53 billion, with estimates ranging from $1.51 billion to $1.55 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Infinera.
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Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Monday, August 2nd. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Infinera had a negative net margin of 9.52% and a negative return on equity of 6.34%. During the same quarter in the previous year, the company earned ($0.09) EPS.
A number of brokerages recently weighed in on INFN. Zacks Investment Research cut shares of Infinera from a “hold” rating to a “sell” rating in a research note on Friday, August 6th. Wolfe Research upgraded shares of Infinera from an “underperform” rating to a “peer perform” rating and set a $10.00 price target on the stock in a research report on Thursday, May 13th. Northland Securities boosted their price target on shares of Infinera from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Infinera in a research report on Monday, May 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Infinera presently has a consensus rating of “Hold” and a consensus target price of $11.00.
Shares of NASDAQ INFN opened at $8.31 on Friday. Infinera has a fifty-two week low of $5.76 and a fifty-two week high of $11.51. The company’s 50-day moving average is $9.61. The company has a current ratio of 1.78, a quick ratio of 1.24 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1.73 billion, a PE ratio of -12.78 and a beta of 1.23.
In other Infinera news, Director Thomas J. Fallon sold 172,564 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is available at this hyperlink. Also, Director Christine Bucklin sold 23,000 shares of the business’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $9.96, for a total value of $229,080.00. Following the sale, the director now owns 20,392 shares in the company, valued at approximately $203,104.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,864 shares of company stock worth $2,014,321. Corporate insiders own 2.03% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in INFN. Principal Financial Group Inc. grew its stake in Infinera by 44.0% during the 4th quarter. Principal Financial Group Inc. now owns 26,001 shares of the communications equipment provider’s stock valued at $272,000 after acquiring an additional 7,948 shares in the last quarter. Westbourne Investment Advisors Inc. purchased a new position in Infinera during the 1st quarter valued at about $1,585,000. State of New Jersey Common Pension Fund D purchased a new position in Infinera during the 1st quarter valued at about $2,216,000. IFP Advisors Inc purchased a new position in Infinera during the 1st quarter valued at about $59,000. Finally, Trustcore Financial Services LLC grew its stake in Infinera by 2,325.6% during the 1st quarter. Trustcore Financial Services LLC now owns 5,215 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 5,000 shares in the last quarter. 86.28% of the stock is currently owned by institutional investors.
Infinera Company Profile
Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.
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