Harmonic (NASDAQ:HLIT – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $0.51-0.71 for the period, compared to the consensus EPS estimate of $0.56. The company issued revenue guidance of $645-695 million, compared to the consensus revenue estimate of $666.65 million. Harmonic also updated its FY 2024 guidance to 0.510-0.710 EPS.
Harmonic Stock Up 2.2 %
Shares of NASDAQ HLIT traded up $0.20 during midday trading on Monday, hitting $9.40. The stock had a trading volume of 2,342,490 shares, compared to its average volume of 2,028,024. The company has a market cap of $1.05 billion, a P/E ratio of 13.34 and a beta of 0.84. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $12.25 and its 200-day moving average is $11.78. Harmonic has a 52 week low of $8.80 and a 52 week high of $18.43.
Harmonic (NASDAQ:HLIT – Get Free Report) last issued its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $167.10 million for the quarter, compared to the consensus estimate of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. As a group, analysts predict that Harmonic will post 0.32 EPS for the current year.
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In related news, SVP Neven Haltmayer sold 14,747 shares of Harmonic stock in a transaction on Friday, February 16th. The stock was sold at an average price of $13.68, for a total transaction of $201,738.96. Following the transaction, the senior vice president now directly owns 156,559 shares in the company, valued at $2,141,727.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Neven Haltmayer sold 14,747 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $13.68, for a total value of $201,738.96. Following the completion of the sale, the senior vice president now directly owns 156,559 shares of the company’s stock, valued at approximately $2,141,727.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nimrod Ben-Natan sold 100,000 shares of Harmonic stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the transaction, the senior vice president now directly owns 302,214 shares in the company, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,000 shares of company stock worth $1,917,122. Company insiders own 2.20% of the company’s stock.
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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