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Infinera Corp. (NASDAQ:INFN) – Analysts at B. Riley issued their Q2 2020 earnings estimates for Infinera in a research report issued to clients and investors on Tuesday, July 23rd. B. Riley analyst D. Kang expects that the communications equipment provider will post earnings per share of ($0.10) for the quarter. B. Riley has a “Buy” rating and a $6.00 price target on the stock. B. Riley also issued estimates for Infinera’s Q3 2020 earnings at ($0.03) EPS and Q4 2020 earnings at $0.02 EPS.
Infinera (NASDAQ:INFN) last released its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 business 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 earned ($0.05) earnings per share. Infinera’s quarterly revenue was up 45.8% compared to the same quarter last year.
Several other equities analysts have also commented on the stock. Northland Securities reiterated a “buy” rating and set a $55.00 price objective on shares of Heron Therapeutics in a research report on Thursday, May 9th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub lowered shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. upgraded shares of ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.35.
INFN stock opened at $3.70 on Friday. Infinera has a 52 week low of $2.80 and a 52 week high of $9.54. The company has a quick ratio of 1.10, a current ratio of 1.78 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $3.11. The company has a market capitalization of $657.79 million, a price-to-earnings ratio of -5.78 and a beta of 0.77.
In related news, COO David W. Heard purchased 25,000 shares of Infinera stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $3.13 per share, with a total value of $78,250.00. Following the purchase, the chief operating officer now directly owns 80,816 shares of the company’s stock, valued at approximately $252,954.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marcel Gani purchased 100,000 shares of Infinera stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $3.15 per share, for a total transaction 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 bought a total of 175,000 shares of company stock valued at $559,250 in the last 90 days. Company insiders own 2.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of INFN. Principal Financial Group Inc. increased its stake in Infinera by 23.5% in the 4th quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 3,288 shares during the period. Prudential Financial Inc. increased its stake in Infinera by 19.8% in the 4th quarter. Prudential Financial Inc. now owns 17,985 shares of the communications equipment provider’s stock worth $72,000 after buying an additional 2,975 shares during the period. Royce & Associates LP purchased a new position in Infinera in the 1st quarter worth about $87,000. Stone Ridge Asset Management LLC purchased a new position in Infinera in the 4th quarter worth about $93,000. Finally, Meitav Dash Investments Ltd. purchased a new position in Infinera in the 1st quarter worth about $172,000. 86.32% of the stock is currently owned by institutional investors.
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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