Harmonic (NASDAQ:HLIT – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.510-0.710 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of -. Harmonic also updated its FY24 guidance to $0.51-0.71 EPS.
Harmonic Stock Performance
Shares of HLIT stock traded up $0.20 on Monday, hitting $9.40. 2,339,702 shares of the stock were exchanged, compared to its average volume of 2,028,024. Harmonic has a one year low of $8.80 and a one year high of $18.43. The firm’s 50 day moving average is $12.25 and its two-hundred day moving average is $11.78. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.05 billion, a PE ratio of 13.34 and a beta of 0.84.
Harmonic (NASDAQ:HLIT – Get Free Report) last issued its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The business had revenue of $167.10 million during the quarter, compared to the consensus estimate of $158.98 million. During the same quarter last year, the company earned $0.12 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. Sell-side analysts expect that Harmonic will post 0.32 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on Harmonic
Insider Buying and Selling at Harmonic
In other news, SVP Nimrod Ben-Natan sold 100,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the transaction, the senior vice president now owns 302,214 shares of the company’s stock, valued at $3,901,582.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Harmonic news, SVP Neven Haltmayer sold 24,695 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total transaction of $285,968.10. Following the sale, the senior vice president now directly owns 181,864 shares in the company, valued at $2,105,985.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the sale, the senior vice president now owns 302,214 shares in the company, valued at $3,901,582.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,000 shares of company stock valued at $1,917,122. Company insiders own 2.20% of the company’s stock.
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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