We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Harmonic (HLIT) Moves 7.9% Higher: Will This Strength Last?
Read MoreHide Full Article
Harmonic (HLIT - Free Report) shares soared 7.9% in the last trading session to close at $10.03. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% loss over the past four weeks.
Harmonic has indigenously developed industry-leading solutions for high-speed broadband connectivity that carriers can quickly deploy with greater network efficiency and agility at scale. In addition to simplifying network evolution for low latency applications, the products will help reduce operating expenses.
The solutions will also offer advanced analytics with streaming telemetry to provide real-time insights into network health and AI-based, actionable recommendations to proactively ensure reliable, always-on broadband service. Such state-of-the-art portfolio additions are likely to have strengthened its market position and propelled the stock higher.
This video services provider is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $132.63 million, down 14.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Harmonic, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HLIT going forward to see if this recent jump can turn into more strength down the road.
Harmonic is a member of the Zacks Communication - Components industry. One other stock in the same industry, AudioCodes (AUDC - Free Report) , finished the last trading session 4.3% lower at $9.16. AUDC has returned -9.2% over the past month.
For AudioCodes, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.18. This represents a change of -43.8% from what the company reported a year ago. AudioCodes currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Harmonic (HLIT) Moves 7.9% Higher: Will This Strength Last?
Harmonic (HLIT - Free Report) shares soared 7.9% in the last trading session to close at $10.03. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% loss over the past four weeks.
Harmonic has indigenously developed industry-leading solutions for high-speed broadband connectivity that carriers can quickly deploy with greater network efficiency and agility at scale. In addition to simplifying network evolution for low latency applications, the products will help reduce operating expenses.
The solutions will also offer advanced analytics with streaming telemetry to provide real-time insights into network health and AI-based, actionable recommendations to proactively ensure reliable, always-on broadband service. Such state-of-the-art portfolio additions are likely to have strengthened its market position and propelled the stock higher.
This video services provider is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $132.63 million, down 14.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Harmonic, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HLIT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Harmonic is a member of the Zacks Communication - Components industry. One other stock in the same industry, AudioCodes (AUDC - Free Report) , finished the last trading session 4.3% lower at $9.16. AUDC has returned -9.2% over the past month.
For AudioCodes, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.18. This represents a change of -43.8% from what the company reported a year ago. AudioCodes currently has a Zacks Rank of #3 (Hold).