Zacks: Brokerages Anticipate Infinera Corporation (INFN) to Announce -$0.13 Earnings Per Share

Equities research analysts forecast that Infinera Corporation (NASDAQ:INFN) will report earnings of ($0.13) per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Infinera’s earnings, with estimates ranging from ($0.14) to ($0.12). Infinera reported earnings of ($0.12) per share in the same quarter last year, which suggests a negative year over year growth rate of 8.3%. The business is scheduled to announce its next earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Infinera will report full year earnings of ($0.54) per share for the current fiscal year, with EPS estimates ranging from ($0.56) to ($0.53). For the next financial year, analysts forecast that the business will report earnings of ($0.21) per share, with EPS estimates ranging from ($0.29) to ($0.10). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Infinera.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.12. The firm had revenue of $192.60 million during the quarter, compared to the consensus estimate of $190.37 million. Infinera had a negative return on equity of 16.35% and a negative net margin of 21.59%. Infinera’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.15) earnings per share.

A number of research analysts have commented on INFN shares. B. Riley reaffirmed a “buy” rating and set a $14.00 target price on shares of Infinera in a report on Friday, August 4th. Deutsche Bank reduced their target price on Infinera from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub downgraded Infinera from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Finally, Needham & Company LLC reiterated a “strong-buy” rating and set a $13.00 price target (down from $14.50) on shares of Infinera in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Infinera presently has an average rating of “Hold” and an average target price of $10.96.

Infinera (NASDAQ:INFN) opened at $7.05 on Friday. Infinera has a 1-year low of $6.27 and a 1-year high of $12.50.

In related news, CEO Thomas J. Fallon acquired 100,000 shares of Infinera stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $6.33 per share, with a total value of $633,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President David F. Welch sold 20,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $9.02, for a total value of $180,400.00. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of Infinera by 27.8% in the first quarter. Legal & General Group Plc now owns 54,446 shares of the communications equipment provider’s stock worth $557,000 after buying an additional 11,828 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Infinera by 8.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 598,766 shares of the communications equipment provider’s stock worth $6,126,000 after buying an additional 44,567 shares during the period. State Street Corp boosted its position in shares of Infinera by 3.7% in the first quarter. State Street Corp now owns 2,682,165 shares of the communications equipment provider’s stock worth $27,440,000 after buying an additional 95,720 shares during the period. US Bancorp DE boosted its position in shares of Infinera by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,186 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Infinera by 370.5% in the second quarter. Russell Investments Group Ltd. now owns 113,778 shares of the communications equipment provider’s stock worth $1,215,000 after buying an additional 89,594 shares during the period. 90.72% of the stock is owned by institutional investors and hedge funds.

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Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

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Earnings History and Estimates for Infinera (NASDAQ:INFN)

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