Raymond James Analysts Begin Coverage on Harmonic (HLIT)
Raymond James (NYSE: RJF) started coverage on shares of Harmonic (NASDAQ: HLIT) in a research note issued on Friday. The firm set a “market perform” rating on the stock.
A number of other firms have also recently commented on HLIT. Analysts at Bank of America (NYSE: BAC) cut their price target on shares of Harmonic from $6.00 to $5.25 in a research note to investors on Wednesday, April 25th. They now have a “neutral” rating on the stock. Separately, analysts at UBS AG (NYSE: UBS) cut their price target on shares of Harmonic from $6.50 to $5.25 in a research note to investors on Tuesday, April 17th. They now have a “neutral” rating on the stock.
Harmonic traded up 0.43% on Friday, hitting $4.72. Harmonic has a 52-week low of $3.85 and a 52-week high of $9.03. The company has a market cap of $555.1 million and a price-to-earnings ratio of 783.33.
The company last announced its quarterly results on Tuesday, January 31st. It reported $0.12 earnings per share (EPS) for the previous quarter, meeting the Thomson Reuters consensus estimate of $0.12 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts expect that Harmonic will post $0.09 EPS next quarter.
Harmonic Inc. (Harmonic) designs, manufactures and sells video products and system solutions that enable service providers to deliver the broadcast and on-demand services, including high-definition television (HDTV), video-on-demand (VOD), network personal video recording and time-shifted television.