Infinera (NASDAQ:INFN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of ($0.30)-(0.26) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.18). The company issued revenue guidance of $290-310 million, compared to the consensus revenue estimate of $336.56 million.Infinera also updated its Q2 2019 guidance to $-0.3–0.26 EPS.
NASDAQ:INFN traded down $0.08 on Friday, hitting $3.14. 20,469 shares of the company’s stock were exchanged, compared to its average volume of 3,627,929. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.78 and a quick ratio of 1.10. Infinera has a 52 week low of $3.00 and a 52 week high of $10.25. The stock has a market capitalization of $577.79 million, a PE ratio of -4.91 and a beta of 0.62.
Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.04. The firm had revenue of $295.60 million for the quarter, compared to analysts’ expectations of $311.11 million. Infinera had a negative net margin of 29.68% and a negative return on equity of 20.02%. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. On average, analysts anticipate that Infinera will post -0.9 earnings per share for the current fiscal year.
In related news, Director Marcel Gani acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of $3.15 per share, with a total value of $315,000.00. Following the purchase, the director now directly owns 222,281 shares in the company, valued at $700,185.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David W. Heard acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average cost of $3.13 per share, with a total value of $78,250.00. Following the purchase, the chief operating officer now owns 80,816 shares in the company, valued at $252,954.08. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 175,000 shares of company stock valued at $559,250. 2.80% of the stock is currently owned by insiders.
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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