Harmonic (NASDAQ:HLIT – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.67-$0.73 for the period, compared to the consensus estimate of $0.65. Harmonic also updated its FY 2024 guidance to 0.670-0.730 EPS.
Wall Street Analyst Weigh In
HLIT has been the subject of a number of research reports. Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $17.00 to $14.00 in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Harmonic in a research note on Tuesday. Jefferies Financial Group downgraded shares of Harmonic from a “buy” rating to a “hold” rating and decreased their target price for the stock from $14.00 to $12.50 in a research note on Tuesday. Northland Securities decreased their target price on Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Rosenblatt Securities decreased their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Harmonic has a consensus rating of “Moderate Buy” and an average price target of $15.25.
Read Our Latest Research Report on HLIT
Harmonic Stock Performance
Harmonic (NASDAQ:HLIT – Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. Harmonic had a net margin of 10.22% and a return on equity of 0.27%. The firm had revenue of $195.80 million during the quarter, compared to analysts’ expectations of $181.77 million. During the same quarter last year, the company posted ($0.05) EPS. The firm’s quarterly revenue was up 53.9% on a year-over-year basis. On average, equities analysts expect that Harmonic will post 0.44 EPS for the current fiscal year.
Harmonic Company Profile
Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.
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