Harmonic (NASDAQ:HLIT) Posts Earnings Results, Beats Expectations By $0.01 EPS

Harmonic (NASDAQ:HLIT) posted its quarterly earnings results on Monday. The communications equipment provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01, Zacks reports. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. Harmonic updated its FY 2025 guidance to 0.430-0.680 EPS and its Q1 2025 guidance to 0.020-0.080 EPS.

Harmonic Price Performance

Harmonic stock opened at $9.42 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62. The company has a market capitalization of $1.10 billion, a PE ratio of 12.90 and a beta of 0.89. Harmonic has a one year low of $8.42 and a one year high of $15.46. The business has a 50 day simple moving average of $12.54 and a 200 day simple moving average of $13.11.

Analyst Ratings Changes

A number of brokerages have recently commented on HLIT. Raymond James lowered Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $17.00 to $14.00 in a report on Tuesday, October 29th. Needham & Company LLC lowered their target price on Harmonic from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday. Jefferies Financial Group lowered Harmonic from a “buy” rating to a “hold” rating and lowered their target price for the company from $14.00 to $12.50 in a report on Tuesday, October 29th. Northland Securities lowered their target price on Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Barclays lowered their target price on Harmonic from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Harmonic currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Harmonic declared that its board has approved a stock buyback program on Monday, February 10th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the communications equipment provider to reacquire up to 15.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Harmonic Company Profile

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.