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Harmonic (HLIT) Stock Moves -0.32%: What You Should Know
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Harmonic (HLIT - Free Report) closed at $9.29 in the latest trading session, marking a -0.32% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.57%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the video services provider had gained 0.65% in the past month. In that same time, the Computer and Technology sector gained 4.23%, while the S&P 500 gained 5.37%.
Wall Street will be looking for positivity from Harmonic as it approaches its next earnings report date. 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.
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 recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Harmonic currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Harmonic is holding a Forward P/E ratio of 27.01. This valuation marks a premium compared to its industry's average Forward P/E of 17.9.
Also, we should mention that HLIT has a PEG ratio of 1.8. 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 1.73 based on yesterday's closing prices.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Moves -0.32%: What You Should Know
Harmonic (HLIT - Free Report) closed at $9.29 in the latest trading session, marking a -0.32% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.57%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the video services provider had gained 0.65% in the past month. In that same time, the Computer and Technology sector gained 4.23%, while the S&P 500 gained 5.37%.
Wall Street will be looking for positivity from Harmonic as it approaches its next earnings report date. 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.
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 recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Harmonic currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Harmonic is holding a Forward P/E ratio of 27.01. This valuation marks a premium compared to its industry's average Forward P/E of 17.9.
Also, we should mention that HLIT has a PEG ratio of 1.8. 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 1.73 based on yesterday's closing prices.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.