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Harmonic (HLIT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Harmonic (HLIT - Free Report) closed at $8.71, marking a -0.91% move from the previous day. This move lagged the S&P 500's daily gain of 0.43%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 0.2%.
Heading into today, shares of the video services provider had lost 3.72% over the past month, lagging the Computer and Technology sector's gain of 3.3% and the S&P 500's gain of 3.69% in that time.
Harmonic will be looking to display strength as it nears 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 prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $140.57 million, up 25.98% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.35 per share and revenue of $589.53 million. These totals would mark changes of +2.94% and +16.24%, respectively, from last year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Harmonic is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Harmonic is holding a Forward P/E ratio of 25.48. Its industry sports an average Forward P/E of 17.9, so we one might conclude that Harmonic is trading at a premium comparatively.
Also, we should mention that HLIT has a PEG ratio of 1.7. 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 1.7 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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.
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Harmonic (HLIT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Harmonic (HLIT - Free Report) closed at $8.71, marking a -0.91% move from the previous day. This move lagged the S&P 500's daily gain of 0.43%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 0.2%.
Heading into today, shares of the video services provider had lost 3.72% over the past month, lagging the Computer and Technology sector's gain of 3.3% and the S&P 500's gain of 3.69% in that time.
Harmonic will be looking to display strength as it nears 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 prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $140.57 million, up 25.98% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.35 per share and revenue of $589.53 million. These totals would mark changes of +2.94% and +16.24%, respectively, from last year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Harmonic is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Harmonic is holding a Forward P/E ratio of 25.48. Its industry sports an average Forward P/E of 17.9, so we one might conclude that Harmonic is trading at a premium comparatively.
Also, we should mention that HLIT has a PEG ratio of 1.7. 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 1.7 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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.