B. Riley Research Analysts Cut Earnings Estimates for Infinera Corp. (INFN)

Share on StockTwits

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.

About Infinera

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.

Featured Article: Options Trading – What is a Straddle?

Earnings History and Estimates for Infinera (NASDAQ:INFN)

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.