Harmonic (NASDAQ:HLIT) Issues Q4 2024 Earnings Guidance

by · The Markets Daily

Harmonic (NASDAQ:HLIT – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.330-0.390 for the period, compared to the consensus estimate of 0.350. The company issued revenue guidance of $205.0 million-$220.0 million, compared to the consensus revenue estimate of $220.6 million. Harmonic also updated its FY 2024 guidance to 0.670-0.730 EPS.

Analysts Set New Price Targets

HLIT has been the subject of several research analyst reports. Raymond James downgraded shares of Harmonic from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $17.00 to $14.00 in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Harmonic in a research report on Tuesday. Barclays dropped their price target on Harmonic from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday. Jefferies Financial Group downgraded Harmonic from a “buy” rating to a “hold” rating and reduced their price target for the company from $14.00 to $12.50 in a research note on Tuesday. Finally, Rosenblatt Securities dropped their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Read Our Latest Stock Report on HLIT

Harmonic Price Performance

Shares of NASDAQ:HLIT traded down $0.45 during trading on Thursday, reaching $11.13. 1,595,265 shares of the company traded hands, compared to its average volume of 1,529,593. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.30. Harmonic has a 52 week low of $9.10 and a 52 week high of $15.46. The firm has a market capitalization of $1.29 billion, a PE ratio of 15.42 and a beta of 0.87. The company’s 50 day moving average is $13.95 and its two-hundred day moving average is $12.57.

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 the consensus estimate of $0.17 by $0.09. Harmonic had a net margin of 10.22% and a return on equity of 0.27%. The business had revenue of $195.80 million during the quarter, compared to analysts’ expectations of $181.77 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Harmonic’s revenue was up 53.9% compared to the same quarter last year. As a group, sell-side analysts predict that Harmonic will post 0.44 earnings per share for the current year.

Harmonic Company Profile

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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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