Infinera (NASDAQ:INFN) Announces Earnings Results, Beats Estimates By $0.02 EPS

Infinera (NASDAQ:INFN) released its quarterly earnings data on Friday. The communications equipment provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02, Briefing.com reports. The company had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The company’s revenue was down 8.9% on a year-over-year basis.

Infinera Stock Down 2.0 %

Shares of INFN traded down $0.12 during midday trading on Monday, hitting $5.76. The company had a trading volume of 6,479,349 shares, compared to its average volume of 4,073,147. The company’s 50-day simple moving average is $5.73 and its 200-day simple moving average is $5.36. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65. Infinera has a 1 year low of $2.82 and a 1 year high of $6.62. The firm has a market capitalization of $1.35 billion, a P/E ratio of -17.06 and a beta of 1.64.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley boosted their price objective on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. StockNews.com initiated coverage on shares of Infinera in a research note on Friday. They set a “sell” rating on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $7.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Craig Hallum reaffirmed a “hold” rating and set a $6.65 price target (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Finally, B. Riley lowered their price objective on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Infinera presently has an average rating of “Hold” and a consensus price target of $7.27.

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.