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

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

Infinera Price Performance

Shares of INFN traded down $0.12 during trading hours on Monday, hitting $5.76. 6,479,349 shares of the company were exchanged, compared to its average volume of 4,073,147. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -17.06 and a beta of 1.64. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.62. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08. The firm’s fifty day moving average is $5.73 and its 200 day moving average is $5.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on INFN shares. Craig Hallum reiterated a “hold” rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. StockNews.com started coverage on Infinera in a research note on Friday. They set a “sell” rating on the stock. Rosenblatt Securities cut Infinera from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $8.00 to $6.65 in a research note on Monday. Morgan Stanley upped 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Infinera in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.27.

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.