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dakotafinancialnews.com /2021/11/30/zacks-analysts-anticipate-infinera-co-nasdaqinfn-will-announce-quarterly-sales-of-385-33-million.htmlZacks: Analysts Anticipate Infinera Co. (NASDAQ:INFN) Will Announce Quarterly Sales of $385.33 Million
Thomas Dobrow5-7 minutes 11/30/2021
Posted by on Nov 30th, 2021
 Brokerages predict that Infinera Co. (NASDAQ:INFN) will announce $385.33 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Infinera’s earnings. The highest sales estimate is $390.30 million and the lowest is $381.26 million. Infinera reported sales of $353.53 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9%. The firm is scheduled to report its next earnings report on Tuesday, February 22nd.
On average, analysts expect that Infinera will report full year sales of $1.41 billion for the current fiscal year, with estimates ranging from $1.41 billion to $1.42 billion. For the next year, analysts anticipate that the business will post sales of $1.54 billion, with estimates ranging from $1.53 billion to $1.55 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Infinera.
Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Wednesday, November 3rd. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. Infinera had a negative return on equity of 9.41% and a negative net margin of 10.71%. The business had revenue of $355.81 million for the quarter, compared to analysts’ expectations of $355.66 million. During the same period last year, the business earned ($0.03) EPS.
INFN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut Infinera from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $11.00 to $9.00 in a research note on Monday, October 18th. MKM Partners cut Infinera from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $11.50 to $9.00 in a research note on Friday, September 24th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Infinera in a research note on Monday, September 27th. Finally, Zacks Investment Research upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Tuesday, August 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Infinera currently has an average rating of “Hold” and a consensus price target of $10.50.
Shares of NASDAQ:INFN opened at $8.26 on Tuesday. The stock has a market cap of $1.74 billion, a PE ratio of -11.47 and a beta of 1.07. Infinera has a 1-year low of $7.22 and a 1-year high of $11.51. The company has a current ratio of 1.75, a quick ratio of 1.19 and a debt-to-equity ratio of 1.38. The stock’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $9.02.
A number of institutional investors and hedge funds have recently made changes to their positions in INFN. Shapiro Capital Management LLC purchased a new position in Infinera during the 3rd quarter valued at about $87,428,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Infinera during the 2nd quarter valued at about $15,460,000. Jefferies Group LLC grew its holdings in Infinera by 2,056.7% during the 2nd quarter. Jefferies Group LLC now owns 1,526,952 shares of the communications equipment provider’s stock valued at $15,575,000 after buying an additional 1,456,152 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Infinera by 419.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,515,702 shares of the communications equipment provider’s stock valued at $15,458,000 after buying an additional 1,224,048 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Infinera during the 2nd quarter valued at about $12,151,000. 92.73% of the stock is owned by institutional investors.
Infinera Company Profile
Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.
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