Infinera (NASDAQ:INFN) Announces Earnings Results

Infinera (NASDAQ:INFN) posted its earnings results on Friday. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02, Briefing.com reports. The company had revenue of $342.70 million for the quarter, compared to the consensus estimate of $331.71 million. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. The company’s revenue was down 8.9% compared to the same quarter last year.

Infinera Stock Down 2.0 %

Shares of NASDAQ INFN traded down $0.12 on Monday, reaching $5.76. 6,477,616 shares of the company’s stock traded hands, compared to its average volume of 4,073,147. Infinera has a 12 month low of $2.82 and a 12 month high of $6.62. The business’s 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $5.36. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -17.06 and a beta of 1.64. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INFN. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a research report on Friday, June 28th. StockNews.com initiated coverage on Infinera in a research note on Friday. They issued a “sell” rating for the company. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $8.00 to $6.65 in a research report on Monday. B. Riley reduced their price objective on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research note on Monday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $7.00 target price on shares of Infinera in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Infinera currently has a consensus rating of “Hold” and an average target price of $7.27.

Infinera Company Profile

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.