Infinera (NASDAQ:INFN) Issues Quarterly Earnings Results

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

Infinera Trading Down 2.0 %

Shares of Infinera stock traded down $0.12 during mid-day trading on Monday, hitting $5.76. The stock had a trading volume of 6,477,616 shares, compared to its average volume of 4,073,147. The firm has a 50-day moving average of $5.73 and a two-hundred day moving average of $5.36. Infinera has a 12-month low of $2.82 and a 12-month 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 has a market cap of $1.35 billion, a P/E ratio of -17.06 and a beta of 1.64.

Analyst Ratings Changes

Several research firms have recently weighed in on INFN. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research note on Friday, June 28th. StockNews.com initiated coverage on shares of Infinera in a research note on Friday. They set a “sell” rating for the company. Rosenblatt Securities downgraded shares of Infinera from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.00 to $6.65 in a research report on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. Finally, Craig Hallum reissued a “hold” rating and set a $6.65 target price (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.