In the latest session, Harmonic, Inc. (NASDAQ: HLIT) closed at $11.22 down -14.61% from its previous closing price of $13.14. In other words, the price has decreased by -$1.92 from its previous closing price. On the day, 6594828 shares were traded. HLIT stock price reached its highest trading level at $12.36 during the session, while it also had its lowest trading level at $10.90.
Ratios:
For a deeper understanding of Harmonic, Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.90 and its Current Ratio is at 1.21. In the meantime, Its Debt-to-Equity ratio is 0.36 whereas as Long-Term Debt/Eq ratio is at 0.07.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Raymond James on August 10, 2023, Upgraded its rating to Strong Buy and sets its target price to $16 from $15 previously.
On January 09, 2023, Jefferies Upgraded its rating to Buy which previously was Hold and also upped its target price recommendation from $14.25 to $19.
On May 24, 2022, Rosenblatt started tracking the stock assigning a Buy rating and target price of $15.Rosenblatt initiated its Buy rating on May 24, 2022, with a $15 target price.
Insider Transactions:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Feb 16 ’24 when Haltmayer Neven sold 14,747 shares for $13.68 per share. The transaction valued at 201,676 led to the insider holds 156,559 shares of the business.
Ben-Natan Nimrod sold 100,000 shares of HLIT for $1,291,120 on Feb 05 ’24. The SVP & GM, Broadband Business now owns 302,214 shares after completing the transaction at $12.91 per share. On Feb 02 ’24, another insider, Haltmayer Neven, who serves as the SVP, Video R&D of the company, sold 10,558 shares for $13.11 each. As a result, the insider received 138,462 and left with 171,306 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, HLIT now has a Market Capitalization of 1.26B and an Enterprise Value of 1.33B. As of this moment, Harmonic,’s Price-to-Earnings (P/E) ratio for their current fiscal year is 15.52, and their Forward P/E ratio for the next fiscal year is 11.69. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.40. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.07 while its Price-to-Book (P/B) ratio in mrq is 2.89. Its current Enterprise Value per Revenue stands at 2.18 whereas that against EBITDA is 38.94.
Stock Price History:
Over the past 52 weeks, HLIT has reached a high of $18.43, while it has fallen to a 52-week low of $8.80. The 50-Day Moving Average of the stock is 13.02, while the 200-Day Moving Average is calculated to be 11.95.
Shares Statistics:
For the past three months, HLIT has traded an average of 1.71M shares per day and 1.57M over the past ten days. A total of 112.41M shares are outstanding, with a floating share count of 108.90M. Insiders hold about 2.69% of the company’s shares, while institutions hold 109.08% stake in the company. Shares short for HLIT as of Mar 28, 2024 were 8.36M with a Short Ratio of 4.49, compared to 7.57M on Feb 29, 2024. Therefore, it implies a Short% of Shares Outstanding of 7.47% and a Short% of Float of 8.99%.
Earnings Estimates
There are 6 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.01 for the current quarter, with a high estimate of $0.02 and a low estimate of -$0.03, while EPS last year was $0.12. The consensus estimate for the next quarter is $0.05, with high estimates of $0.09 and low estimates of -$0.01.
Analysts are recommending an EPS of between $0.63 and $0.45 for the fiscal current year, implying an average EPS of $0.57. EPS for the following year is $1, with 6 analysts recommending between $1.26 and $0.78.
Revenue Estimates
A total of 5 analysts believe the company’s revenue will be $121.7M this quarter.It ranges from a high estimate of $122.8M to a low estimate of $120M. As of the current estimate, Harmonic, Inc.’s year-ago sales were $157.65M, an estimated decrease of -22.80% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $141.29M, a decrease of -9.40% over than the figure of -$22.80% in the same quarter last year. There is a high estimate of $149.8M for the next quarter, whereas the lowest estimate is $125.95M.
A total of 6 analysts have provided revenue estimates for HLIT’s current fiscal year. The highest revenue estimate was $683M, while the lowest revenue estimate was $645.4M, resulting in an average revenue estimate of $672.54M. In the same quarter a year ago, actual revenue was $607.91M, up 10.60% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $846.59M in the next fiscal year. The high estimate is $906.5M and the low estimate is $763.8M. The average revenue growth estimate for next year is up 25.90% from the average revenue estimate for this year.
