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Harmonic (HLIT) Dips More Than Broader Markets: What You Should Know
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Harmonic (HLIT - Free Report) closed the most recent trading day at $10.60, moving -1.58% from the previous trading session. This move lagged the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the video services provider had lost 5.94% in the past month. In that same time, the Computer and Technology sector lost 5.94%, while the S&P 500 lost 1.81%.
Harmonic will be looking to display strength as it nears its next earnings release, which is expected to be January 31, 2022. In that report, analysts expect Harmonic to post earnings of $0.14 per share. This would mark a year-over-year decline of 30%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $151.93 million, up 15.51% from the year-ago period.
It is also important to note the 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.
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 currently a Zacks Rank #3 (Hold).
In terms of valuation, Harmonic is currently trading at a Forward P/E ratio of 21.12. Its industry sports an average Forward P/E of 18.91, so we one might conclude that Harmonic is trading at a premium comparatively.
We can also see that HLIT currently has a PEG ratio of 1.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Communication - Components stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Dips More Than Broader Markets: What You Should Know
Harmonic (HLIT - Free Report) closed the most recent trading day at $10.60, moving -1.58% from the previous trading session. This move lagged the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the video services provider had lost 5.94% in the past month. In that same time, the Computer and Technology sector lost 5.94%, while the S&P 500 lost 1.81%.
Harmonic will be looking to display strength as it nears its next earnings release, which is expected to be January 31, 2022. In that report, analysts expect Harmonic to post earnings of $0.14 per share. This would mark a year-over-year decline of 30%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $151.93 million, up 15.51% from the year-ago period.
It is also important to note the 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.
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 currently a Zacks Rank #3 (Hold).
In terms of valuation, Harmonic is currently trading at a Forward P/E ratio of 21.12. Its industry sports an average Forward P/E of 18.91, so we one might conclude that Harmonic is trading at a premium comparatively.
We can also see that HLIT currently has a PEG ratio of 1.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Communication - Components stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.