Infinera (NASDAQ:INFN) Issues Quarterly Earnings Results

Infinera (NASDAQ:INFN) posted its quarterly earnings data on Thursday. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15), Zacks reports. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The company had revenue of $414.39 million for the quarter, compared to analyst estimates of $409.08 million.

Infinera Price Performance

INFN traded down $0.01 on Friday, hitting $6.65. 8,774,917 shares of the company were exchanged, compared to its average volume of 1,008,958. Infinera has a fifty-two week low of $4.41 and a fifty-two week high of $6.92. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a market capitalization of $1.57 billion, a P/E ratio of -13.84 and a beta of 1.63. The business’s fifty day moving average is $6.61 and its 200 day moving average is $6.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Rosenblatt Securities restated a “neutral” rating and set a $6.65 price target on shares of Infinera in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, B. Riley downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.09.

About Infinera

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.