Infinera (NASDAQ:INFN) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS


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Infinera (NASDAQ:INFN) announced its quarterly earnings results on Tuesday. The communications equipment provider reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03, MarketWatch Earnings reports. The business had revenue of $330.91 million for the quarter, compared to analyst estimates of $330.88 million. Infinera had a negative return on equity of 27.33% and a negative net margin of 19.00%. Infinera’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.27) EPS. Infinera updated its Q2 2021 guidance to – EPS.

Shares of INFN stock traded down $0.48 on Tuesday, reaching $8.79. 2,608,941 shares of the stock were exchanged, compared to its average volume of 2,536,098. The stock has a market cap of $1.80 billion, a PE ratio of -6.10 and a beta of 1.28. Infinera has a one year low of $3.98 and a one year high of $11.51. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.85 and a quick ratio of 1.30. The stock has a 50 day moving average price of $9.84 and a 200 day moving average price of $9.23.

In other news, CAO Michael H. Fernicola sold 3,927 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $10.00, for a total transaction of $39,270.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David F. Welch sold 419,378 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $10.05, for a total value of $4,214,748.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 473,609 shares of company stock valued at $4,751,901. 2.82% of the stock is currently owned by corporate insiders.

Several analysts recently commented on the company. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, April 28th. Rosenblatt Securities boosted their price objective on Infinera from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, February 10th. Finally, B. Riley reduced their price objective on Infinera from $11.50 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $8.95.

Infinera Company Profile

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.

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Earnings History for Infinera (NASDAQ:INFN)

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