Infinera Co. (NASDAQ:INFN) Given Consensus Rating of “Reduce” by Brokerages

Infinera Co. (NASDAQ:INFN) has earned an average rating of “Reduce” from the seven brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $6.52.

Separately, Wall Street Zen initiated coverage on shares of Infinera in a report on Thursday, May 15th. They issued a “hold” rating on the stock.

Infinera Price Performance

Shares of NASDAQ:INFN opened at $6.64 on Monday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. The firm’s 50-day simple moving average is $6.64 and its 200-day simple moving average is $6.63. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera has a fifty-two week low of $4.97 and a fifty-two week high of $6.92.

Infinera (NASDAQ:INFN) last issued its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). The firm had revenue of $414.39 million during the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, equities research analysts predict that Infinera will post -0.33 earnings per share for the current year.

Institutional Trading of Infinera

A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in Infinera by 1.9% during the fourth quarter. Russell Investments Group Ltd. now owns 110,687 shares of the communications equipment provider’s stock worth $727,000 after buying an additional 2,097 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Infinera by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 130,242 shares of the communications equipment provider’s stock worth $856,000 after buying an additional 3,776 shares in the last quarter. Mariner LLC boosted its holdings in Infinera by 23.2% during the fourth quarter. Mariner LLC now owns 23,450 shares of the communications equipment provider’s stock worth $154,000 after buying an additional 4,422 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Infinera by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 637,922 shares of the communications equipment provider’s stock worth $4,191,000 after buying an additional 5,061 shares in the last quarter. Finally, Vestcor Inc purchased a new stake in Infinera during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.