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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 $8.38, marking a -1.3% move from the previous day. This change lagged the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.02%.
Coming into today, shares of the video services provider had lost 10.91% in the past month. In that same time, the Computer and Technology sector lost 13.55%, while the S&P 500 lost 8.08%.
Wall Street will be looking for positivity from Harmonic as it approaches its next earnings report date. This is expected to be May 2, 2022. On that day, Harmonic is projected to report earnings of $0.04 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $140.57 million, up 25.98% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.36 per share and revenue of $589.53 million. These totals would mark changes of +5.88% and +16.24%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Harmonic. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 10.15% higher. Harmonic currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Harmonic has a Forward P/E ratio of 23.8 right now. Its industry sports an average Forward P/E of 16.75, so we one might conclude that Harmonic is trading at a premium comparatively.
Also, we should mention that HLIT has a PEG ratio of 1.59. 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 was holding an average PEG ratio of 1.59 at yesterday's closing price.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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 $8.38, marking a -1.3% move from the previous day. This change lagged the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.02%.
Coming into today, shares of the video services provider had lost 10.91% in the past month. In that same time, the Computer and Technology sector lost 13.55%, while the S&P 500 lost 8.08%.
Wall Street will be looking for positivity from Harmonic as it approaches its next earnings report date. This is expected to be May 2, 2022. On that day, Harmonic is projected to report earnings of $0.04 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $140.57 million, up 25.98% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.36 per share and revenue of $589.53 million. These totals would mark changes of +5.88% and +16.24%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Harmonic. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 10.15% higher. Harmonic currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Harmonic has a Forward P/E ratio of 23.8 right now. Its industry sports an average Forward P/E of 16.75, so we one might conclude that Harmonic is trading at a premium comparatively.
Also, we should mention that HLIT has a PEG ratio of 1.59. 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 was holding an average PEG ratio of 1.59 at yesterday's closing price.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.