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Harmonic (HLIT) Gains As Market Dips: What You Should Know
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In the latest trading session, Harmonic (HLIT - Free Report) closed at $8.78, marking a +1.15% move from the previous day. This move outpaced the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the video services provider had lost 4.41% over the past month, outpacing the Computer and Technology sector's loss of 10.02% and the S&P 500's loss of 6.24% in that time.
Investors will be hoping for strength from Harmonic as it approaches its next earnings release. In that report, analysts expect Harmonic to post earnings of $0.04 per share. This would mark no growth from the year-ago period. Our most recent consensus estimate is calling for quarterly revenue of $140.57 million, up 25.98% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.35 per share and revenue of $589.53 million, which would represent changes of +2.94% and +16.24%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Harmonic. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Harmonic currently has a Zacks Rank of #4 (Sell).
Investors should also note Harmonic's current valuation metrics, including its Forward P/E ratio of 25.16. This represents a premium compared to its industry's average Forward P/E of 18.9.
Also, we should mention that HLIT has a PEG ratio of 1.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HLIT's industry had an average PEG ratio of 1.71 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HLIT in the coming trading sessions, be sure to utilize Zacks.com.
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Harmonic (HLIT) Gains As Market Dips: What You Should Know
In the latest trading session, Harmonic (HLIT - Free Report) closed at $8.78, marking a +1.15% move from the previous day. This move outpaced the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the video services provider had lost 4.41% over the past month, outpacing the Computer and Technology sector's loss of 10.02% and the S&P 500's loss of 6.24% in that time.
Investors will be hoping for strength from Harmonic as it approaches its next earnings release. In that report, analysts expect Harmonic to post earnings of $0.04 per share. This would mark no growth from the year-ago period. Our most recent consensus estimate is calling for quarterly revenue of $140.57 million, up 25.98% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.35 per share and revenue of $589.53 million, which would represent changes of +2.94% and +16.24%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Harmonic. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Harmonic currently has a Zacks Rank of #4 (Sell).
Investors should also note Harmonic's current valuation metrics, including its Forward P/E ratio of 25.16. This represents a premium compared to its industry's average Forward P/E of 18.9.
Also, we should mention that HLIT has a PEG ratio of 1.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HLIT's industry had an average PEG ratio of 1.71 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HLIT in the coming trading sessions, be sure to utilize Zacks.com.