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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 $8.54, moving -1.27% from the previous trading session. This change lagged the S&P 500's 1.21% loss on the day. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.49%.
Heading into today, shares of the video services provider had lost 5.77% over the past month, lagging the Computer and Technology sector's gain of 4.11% and the S&P 500's gain of 5.85% in that time.
Investors will be hoping for strength from Harmonic as it approaches its next earnings release. The company is expected to report EPS of $0.04, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $140.57 million, up 25.98% from the year-ago period.
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.
Investors should also note any recent changes to analyst estimates for Harmonic. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Harmonic currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Harmonic is currently trading at a Forward P/E ratio of 25.07. This valuation marks a premium compared to its industry's average Forward P/E of 17.09.
It is also worth noting that HLIT currently has a PEG ratio of 1.67. 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. The Communication - Components industry currently had an average PEG ratio of 1.67 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 84, putting it in the top 34% 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.
You can find more information on all of these metrics, and much more, on 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 $8.54, moving -1.27% from the previous trading session. This change lagged the S&P 500's 1.21% loss on the day. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.49%.
Heading into today, shares of the video services provider had lost 5.77% over the past month, lagging the Computer and Technology sector's gain of 4.11% and the S&P 500's gain of 5.85% in that time.
Investors will be hoping for strength from Harmonic as it approaches its next earnings release. The company is expected to report EPS of $0.04, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $140.57 million, up 25.98% from the year-ago period.
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.
Investors should also note any recent changes to analyst estimates for Harmonic. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Harmonic currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Harmonic is currently trading at a Forward P/E ratio of 25.07. This valuation marks a premium compared to its industry's average Forward P/E of 17.09.
It is also worth noting that HLIT currently has a PEG ratio of 1.67. 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. The Communication - Components industry currently had an average PEG ratio of 1.67 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 84, putting it in the top 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.