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

Infinera (NASDAQ:INFN) released its quarterly earnings results on Thursday. The communications equipment provider reported ($0.02) 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 the consensus estimate of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%.

Infinera Trading Down 0.1 %

Shares of NASDAQ:INFN traded down $0.01 during midday trading on Friday, reaching $6.65. The company had a trading volume of 8,774,917 shares, compared to its average volume of 1,008,958. The company has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $6.56. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -13.84 and a beta of 1.63. Infinera has a 1-year low of $4.41 and a 1-year high of $6.92. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58.

Wall Street Analyst Weigh In

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