Infinera Corp. (NASDAQ:INFN) – Equities researchers at B. Riley lowered their Q2 2019 earnings per share estimates for shares of Infinera in a research report issued on Tuesday, May 7th. B. Riley analyst D. Kang now expects that the communications equipment provider will post earnings per share of ($0.26) for the quarter, down from their previous estimate of ($0.25). B. Riley also issued estimates for Infinera’s Q3 2019 earnings at ($0.15) EPS, Q4 2019 earnings at ($0.06) EPS and FY2019 earnings at ($0.77) EPS.
Infinera (NASDAQ:INFN) last announced its earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.04. The firm had revenue of $295.60 million for the quarter, compared to the consensus estimate of $311.11 million. Infinera had a negative return on equity of 14.96% and a negative net margin of 22.40%. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS.
Other analysts also recently issued research reports about the company. Northland Securities reaffirmed a “buy” rating and set a $7.00 target price on shares of Infinera in a research note on Thursday. BidaskClub raised Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. MKM Partners raised Infinera from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Monday, March 11th. ValuEngine downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research raised Infinera from a “hold” rating to a “strong-buy” rating and set a $6.00 target price on the stock in a research note on Wednesday, February 27th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.00.
Shares of Infinera stock opened at $4.42 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.90. The firm has a market cap of $754.01 million, a price-to-earnings ratio of -6.91 and a beta of 0.62. Infinera has a 1-year low of $3.54 and a 1-year high of $11.92.
Several institutional investors and hedge funds have recently bought and sold shares of INFN. Oaktree Capital Management LP bought a new stake in shares of Infinera in the 4th quarter worth $83,692,000. FMR LLC raised its stake in shares of Infinera by 13.4% in the 4th quarter. FMR LLC now owns 26,204,780 shares of the communications equipment provider’s stock worth $104,557,000 after buying an additional 3,104,780 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Infinera by 65.2% in the 4th quarter. Bank of America Corp DE now owns 3,314,218 shares of the communications equipment provider’s stock worth $13,224,000 after buying an additional 1,307,780 shares in the last quarter. Elk Creek Partners LLC raised its stake in shares of Infinera by 53.5% in the 4th quarter. Elk Creek Partners LLC now owns 3,608,233 shares of the communications equipment provider’s stock worth $14,397,000 after buying an additional 1,257,311 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Infinera by 361.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,231,400 shares of the communications equipment provider’s stock worth $4,913,000 after buying an additional 964,301 shares in the last quarter. 85.39% of the stock is currently owned by institutional investors.
Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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