Zacks: Brokerages Anticipate Infinera Corp. (NASDAQ:INFN) Will Post Quarterly Sales of $300.37 Million

Equities analysts predict that Infinera Corp. (NASDAQ:INFN) will post sales of $300.37 million for the current quarter, according to Zacks. Eight analysts have made estimates for Infinera’s earnings. The lowest sales estimate is $298.60 million and the highest is $302.93 million. Infinera reported sales of $208.23 million in the same quarter last year, which indicates a positive year over year growth rate of 44.2%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, August 7th.

On average, analysts expect that Infinera will report full year sales of $1.28 billion for the current year, with estimates ranging from $1.25 billion to $1.30 billion. For the next financial year, analysts forecast that the business will post sales of $1.41 billion, with estimates ranging from $1.33 billion to $1.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Infinera.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Infinera had a negative net margin of 29.68% and a negative return on equity of 20.02%. The firm had revenue of $295.60 million during the quarter, compared to analyst estimates of $311.11 million. During the same quarter last year, the business posted ($0.05) EPS. The company’s revenue was up 45.8% on a year-over-year basis.

A number of research firms recently commented on INFN. Northland Securities reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Heron Therapeutics in a research note on Thursday, May 9th. BidaskClub lowered shares of YRC Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised shares of ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research note on Monday, June 3rd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.00.

In related news, CEO Thomas J. Fallon bought 50,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $3.32 per share, with a total value of $166,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marcel Gani bought 100,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $3.15 per share, with a total value of $315,000.00. Following the purchase, the director now directly owns 222,281 shares in the company, valued at $700,185.15. The disclosure for this purchase can be found here. Insiders have acquired a total of 175,000 shares of company stock valued at $559,250 in the last three months. Company insiders own 2.80% of the company’s stock.

Several large investors have recently modified their holdings of INFN. FMR LLC boosted its holdings in Infinera by 0.6% during the first quarter. FMR LLC now owns 26,354,780 shares of the communications equipment provider’s stock worth $114,380,000 after purchasing an additional 150,000 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new position in Infinera during the first quarter worth $2,736,000. Meitav Dash Investments Ltd. acquired a new position in Infinera during the first quarter worth $172,000. Paradigm Capital Management Inc. NY acquired a new position in Infinera during the first quarter worth $3,578,000. Finally, Royce & Associates LP acquired a new position in Infinera during the first quarter worth $87,000. 86.32% of the stock is owned by institutional investors.

Infinera stock traded up $0.28 during midday trading on Friday, reaching $3.20. The stock had a trading volume of 4,328,216 shares, compared to its average volume of 2,628,268. The firm has a fifty day moving average of $3.03. Infinera has a twelve month low of $2.80 and a twelve month high of $9.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.10 and a current ratio of 1.78. The firm has a market cap of $524.45 million, a price-to-earnings ratio of -5.00 and a beta of 0.77.

About Infinera

Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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