Harmonic Inc (NASDAQ: HLIT) has reported a loss for its first fiscal quarter (ending March 31) of $-0.07 versus $0.05 for the same period a year ago — a decline of -240%. This result fell short of the consensus estimate of $0.16 by $-0.23. For the latest four quarters through March 31, E.P.S. were $0.63 versus $0.33 for the same period a year ago — an increase of 91%.
Recent Price Action
On 4/29/24, Harmonic Inc (NASDAQ: HLIT) stock enjoyed a large increase of 2.2%, closing at $9.40. Moreover, this advance was accompanied by above average trading volume at 136% of normal. Relative to the market the stock has been strong over the last nine months but has declined -2.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, HLIT is expected to continue to be a major Value Builder.
Harmonic has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Harmonic has a neutral Appreciation Score of 45 and a slightly positive Power Rating of 65, and the Neutral Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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