We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Harmonic (HLIT) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Harmonic (HLIT - Free Report) closed at $9.49, marking a -1.25% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the video services provider had gained 3.56% over the past month, outpacing the Computer and Technology sector's gain of 1.92% and the S&P 500's gain of 2.67% in that time.
Wall Street will be looking for positivity from Harmonic as it approaches its next earnings report date. On that day, Harmonic is projected to report earnings of $0.04 per share, which would represent no growth from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $140.57 million, up 25.98% from the prior-year quarter.
HLIT's full-year Zacks Consensus Estimates are calling for earnings of $0.35 per share and revenue of $589.53 million. These results would represent year-over-year changes of +2.94% and +16.24%, respectively.
Any recent changes to analyst estimates for Harmonic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Harmonic is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Harmonic's current valuation metrics, including its Forward P/E ratio of 27.85. Its industry sports an average Forward P/E of 18.05, so we one might conclude that Harmonic is trading at a premium comparatively.
It is also worth noting that HLIT currently has a PEG ratio of 1.86. 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. The Communication - Components industry currently had an average PEG ratio of 1.84 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 56, which puts it in the top 23% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Harmonic (HLIT) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Harmonic (HLIT - Free Report) closed at $9.49, marking a -1.25% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the video services provider had gained 3.56% over the past month, outpacing the Computer and Technology sector's gain of 1.92% and the S&P 500's gain of 2.67% in that time.
Wall Street will be looking for positivity from Harmonic as it approaches its next earnings report date. On that day, Harmonic is projected to report earnings of $0.04 per share, which would represent no growth from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $140.57 million, up 25.98% from the prior-year quarter.
HLIT's full-year Zacks Consensus Estimates are calling for earnings of $0.35 per share and revenue of $589.53 million. These results would represent year-over-year changes of +2.94% and +16.24%, respectively.
Any recent changes to analyst estimates for Harmonic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Harmonic is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Harmonic's current valuation metrics, including its Forward P/E ratio of 27.85. Its industry sports an average Forward P/E of 18.05, so we one might conclude that Harmonic is trading at a premium comparatively.
It is also worth noting that HLIT currently has a PEG ratio of 1.86. 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. The Communication - Components industry currently had an average PEG ratio of 1.84 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 56, which puts it in the top 23% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.