Brokerages Anticipate Infinera Corp. (INFN) Will Post Quarterly Sales of $200.35 Million

Equities analysts expect that Infinera Corp. (NASDAQ:INFN) will post sales of $200.35 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Infinera’s earnings. The highest sales estimate is $201.20 million and the lowest is $199.70 million. Infinera posted sales of $175.52 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The firm is expected to report its next earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Infinera will report full year sales of $200.35 million for the current year, with estimates ranging from $814.40 million to $840.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $891.16 million per share, with estimates ranging from $863.00 million to $950.42 million. Zacks’ sales averages are an average based on a survey of analysts that cover Infinera.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. The business had revenue of $195.82 million during the quarter, compared to the consensus estimate of $190.26 million. Infinera had a negative net margin of 26.26% and a negative return on equity of 16.77%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share.

INFN has been the subject of several research reports. William Blair restated a “buy” rating on shares of Infinera in a research note on Thursday, November 9th. Nomura dropped their price target on shares of Infinera from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Craig Hallum restated a “buy” rating and issued a $10.00 price target (down previously from $15.00) on shares of Infinera in a research note on Thursday, November 9th. B. Riley restated a “buy” rating and issued a $12.00 price target (down previously from $14.00) on shares of Infinera in a research note on Tuesday, November 7th. Finally, Zacks Investment Research upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.27.

In other news, insider David F. Welch sold 60,000 shares of Infinera stock in a transaction on Monday, February 12th. The shares were sold at an average price of $9.07, for a total transaction of $544,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David F. Welch sold 80,000 shares of Infinera stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $9.14, for a total transaction of $731,200.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its position in shares of Infinera by 2,170.9% during the 4th quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock worth $101,000 after purchasing an additional 15,196 shares during the last quarter. Virtu Financial LLC purchased a new stake in Infinera in the fourth quarter valued at $155,000. Prudential Financial Inc. lifted its position in Infinera by 4.9% in the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 710 shares during the last quarter. MANA Advisors LLC purchased a new stake in Infinera in the fourth quarter valued at $161,000. Finally, Aperio Group LLC lifted its position in Infinera by 87.6% in the third quarter. Aperio Group LLC now owns 18,948 shares of the communications equipment provider’s stock valued at $168,000 after acquiring an additional 8,847 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Infinera (NASDAQ:INFN) traded up $0.04 during trading hours on Friday, hitting $9.60. 1,549,460 shares of the company’s stock traded hands, compared to its average volume of 1,997,927. The firm has a market capitalization of $1,430.00, a P/E ratio of -7.33 and a beta of 1.24. Infinera has a fifty-two week low of $6.10 and a fifty-two week high of $12.38.

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Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

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