Infinera (NASDAQ:INFN) Releases Earnings Results, Misses Estimates By $0.15 EPS

Infinera (NASDAQ:INFN) announced its quarterly earnings data on Thursday. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15), Zacks reports. The firm had revenue of $414.39 million for the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%.

Infinera Stock Performance

Shares of INFN stock traded down $0.01 on Friday, reaching $6.65. The stock had a trading volume of 8,774,917 shares, compared to its average volume of 1,008,958. Infinera has a 12 month low of $4.41 and a 12 month high of $6.92. The firm’s 50-day moving average is $6.61 and its two-hundred day moving average is $6.56. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.84 and a beta of 1.63.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INFN. Rosenblatt Securities reissued a “neutral” rating and issued a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Infinera presently has an average rating of “Hold” and a consensus price target of $7.09.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.