Infinera (NASDAQ:INFN) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Infinera (NASDAQ:INFN) released its quarterly earnings results on Friday. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02, Briefing.com reports. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The firm had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. The company’s revenue was down 8.9% compared to the same quarter last year.

Infinera Price Performance

Shares of NASDAQ INFN traded down $0.12 during midday trading on Monday, reaching $5.76. 6,403,992 shares of the stock traded hands, compared to its average volume of 4,072,653. The company’s 50 day moving average is $5.73 and its 200 day moving average is $5.36. Infinera has a one year low of $2.82 and a one year high of $6.62. The stock has a market capitalization of $1.35 billion, a PE ratio of -17.06 and a beta of 1.64. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com assumed coverage on Infinera in a research note on Friday. They set a “sell” rating for the company. Craig Hallum reiterated a “hold” rating and set a $6.65 price objective (down from $12.00) on shares of Infinera in a research note on Monday, July 1st. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research note on Friday, June 28th. B. Riley cut their price objective on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research note on Monday. Finally, Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $6.65 in a research note on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.27.

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.