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 0.670-0.730 for the period, compared to the consensus earnings per share 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 Stock Up 3.4 %
NASDAQ:HLIT traded up $0.38 during trading hours on Wednesday, hitting $11.48. The company’s stock had a trading volume of 1,113,956 shares, compared to its average volume of 1,521,615. The stock has a fifty day moving average of $14.00 and a 200-day moving average of $12.58. The stock has a market capitalization of $1.29 billion, a P/E ratio of 18.72 and a beta of 0.87. Harmonic has a 52-week low of $9.10 and a 52-week high of $15.46. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.30.
Harmonic (NASDAQ:HLIT – Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. Harmonic had a net margin of 10.22% and a return on equity of 0.27%. The firm had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The firm’s revenue was up 53.9% compared to the same quarter last year. On average, equities analysts forecast that Harmonic will post 0.44 earnings per share for the current year.
Analyst Upgrades and Downgrades
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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