Infinera (NASDAQ:INFN) Issues Earnings Results, Misses Expectations By $0.15 EPS

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

Infinera Trading Down 0.1 %

Shares of Infinera stock traded down $0.01 during trading hours on Friday, hitting $6.65. The company’s stock had a trading volume of 8,774,917 shares, compared to its average volume of 1,008,958. The business has a fifty day moving average of $6.61 and a 200 day moving average of $6.56. Infinera has a 1-year low of $4.41 and a 1-year high of $6.92. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The company has a market capitalization of $1.57 billion, a PE ratio of -13.84 and a beta of 1.63.

Analysts Set New Price Targets

INFN has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, B. Riley cut Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.