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.
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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