Harmonic (NASDAQ:HLIT) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Harmonic (NASDAQ:HLIT) issued its quarterly earnings results on Monday. The communications equipment provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01, Zacks reports. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. Harmonic updated its FY 2025 guidance to 0.430-0.680 EPS and its Q1 2025 guidance to 0.020-0.080 EPS.

Harmonic Stock Down 0.1 %

Shares of HLIT stock opened at $11.12 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. The stock’s 50 day simple moving average is $12.61 and its 200 day simple moving average is $13.13. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 15.23 and a beta of 0.89. Harmonic has a twelve month low of $9.10 and a twelve month high of $15.46.

Harmonic declared that its Board of Directors has authorized a share buyback plan on Monday, February 10th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to purchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on HLIT shares. Northland Securities reduced their target price on Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Harmonic in a report on Tuesday, October 29th. Barclays cut Harmonic from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $17.00 to $14.00 in a report on Thursday, January 9th. Raymond James cut Harmonic from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $17.00 to $14.00 in a report on Tuesday, October 29th. Finally, Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and decreased their target price for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

About Harmonic

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.