Infinera (NASDAQ:INFN) Releases Q2 2019 Earnings Guidance

Infinera (NASDAQ:INFN) updated its second quarter 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $-0.3–0.26 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.17. The company issued revenue guidance of $290-310 million, compared to the consensus revenue estimate of $336.81 million.Infinera also updated its Q2 guidance to ($0.30)-(0.26) EPS.

A number of brokerages recently issued reports on INFN. Northland Securities reiterated a buy rating and issued a $7.00 price objective on shares of Infinera in a research report on Thursday, May 9th. ValuEngine cut Infinera from a hold rating to a sell rating in a research note on Wednesday, May 1st. BidaskClub cut Infinera from a hold rating to a sell rating in a research note on Tuesday, April 30th. MKM Partners raised Infinera from a neutral rating to a buy rating and set a $6.00 target price on the stock in a research note on Monday, March 11th. Finally, Zacks Investment Research cut Infinera from a strong-buy rating to a hold rating in a research note on Saturday, March 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $7.58.

INFN stock opened at $3.22 on Friday. Infinera has a 52-week low of $3.00 and a 52-week high of $10.25. The company has a market cap of $577.79 million, a PE ratio of -5.03 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.78 and a debt-to-equity ratio of 0.55.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported ($0.23) earnings per share 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 company had revenue of $295.60 million during the quarter, compared to analyst estimates of $311.11 million. During the same period in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. Sell-side analysts predict that Infinera will post -0.9 EPS for the current year.

In other Infinera news, CEO Thomas J. Fallon bought 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average cost of $3.32 per share, for a total transaction of $166,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO David W. Heard bought 25,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was bought at an average price of $3.13 per share, for a total transaction of $78,250.00. Following the completion of the purchase, the chief operating officer now directly owns 80,816 shares in the company, valued at $252,954.08. The disclosure for this purchase can be found here. In the last three months, insiders have bought 175,000 shares of company stock valued at $559,250. Insiders own 2.80% of the company’s stock.

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Infinera Company Profile

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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Earnings History and Estimates for Infinera (NASDAQ:INFN)

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