Infinera (NASDAQ:INFN) Releases Quarterly Earnings Results, Misses Estimates By $0.15 EPS

Infinera (NASDAQ:INFN) posted its earnings results on Thursday. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15), Zacks reports. The company had revenue of $414.39 million during the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%.

Infinera Trading Down 0.1 %

INFN traded down $0.01 during midday trading on Friday, hitting $6.65. The company’s stock had a trading volume of 8,774,917 shares, compared to its average volume of 1,008,958. Infinera has a 52-week low of $4.41 and a 52-week high of $6.92. The firm has a 50-day moving average price of $6.61 and a two-hundred day moving average price of $6.56. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. The firm has a market cap of $1.57 billion, a P/E ratio of -13.84 and a beta of 1.63.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Rosenblatt Securities restated a “neutral” rating and issued a $6.65 target price on shares of Infinera in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Infinera presently has an average rating of “Hold” and an average price target of $7.09.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.