Harmonic (NASDAQ:HLIT – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.670-0.730 for the period, compared to the consensus EPS estimate of 0.650. The company issued revenue guidance of $662.0 million-$677.0 million, compared to the consensus revenue estimate of $663.4 million. Harmonic also updated its FY24 guidance to $0.67-$0.73 EPS.
Harmonic Price Performance
HLIT traded down $3.74 during midday trading on Tuesday, reaching $11.08. 2,814,025 shares of the company’s stock were exchanged, compared to its average volume of 1,502,278. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.87 and a quick ratio of 1.32. The stock has a market capitalization of $1.24 billion, a PE ratio of 18.73 and a beta of 0.87. The business’s 50-day moving average price is $14.06 and its 200 day moving average price is $12.57. Harmonic has a 1-year low of $9.10 and a 1-year high of $15.46.
Harmonic (NASDAQ:HLIT – Get Free Report) last announced its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The company had revenue of $195.80 million during the quarter, compared to analysts’ expectations of $181.77 million. Harmonic had a net margin of 10.22% and a return on equity of 0.27%. The firm’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. As a group, equities analysts anticipate that Harmonic will post 0.44 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Harmonic
Insiders Place Their Bets
In other Harmonic news, SVP Neven Haltmayer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $14.41, for a total transaction of $576,400.00. Following the completion of the sale, the senior vice president now directly owns 122,211 shares in the company, valued at $1,761,060.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by insiders.
About Harmonic
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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