Infinera Corporation (NASDAQ:INFN) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of ~($0.16) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.11). The company issued revenue guidance of ~$190 million, compared to the consensus revenue estimate of $196.80 million.

Several research analysts have commented on the company. B. Riley raised Infinera Corporation from a neutral rating to a buy rating and lifted their price target for the stock from $9.50 to $14.00 in a research report on Thursday, June 22nd. BidaskClub lowered Infinera Corporation from a sell rating to a strong sell rating in a research report on Thursday, July 6th. Zacks Investment Research lowered Infinera Corporation from a hold rating to a sell rating in a research report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a hold rating and set a $10.00 price target on shares of Infinera Corporation in a research report on Friday, July 21st. Finally, Needham & Company LLC reaffirmed a strong-buy rating and set a $13.50 price target on shares of Infinera Corporation in a research report on Monday, May 8th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Infinera Corporation has an average rating of Hold and an average price target of $12.09.

Shares of Infinera Corporation (NASDAQ INFN) traded down 16.56% on Friday, hitting $9.57. The company’s stock had a trading volume of 11,490,949 shares. Infinera Corporation has a 1-year low of $7.23 and a 1-year high of $12.50. The company has a 50 day moving average of $11.43 and a 200 day moving average of $10.41. The firm’s market cap is $1.40 billion.

Infinera Corporation (NASDAQ:INFN) last issued its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $176.28 million for the quarter, compared to the consensus estimate of $181.16 million. Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.25%. The business’s revenue for the quarter was down 31.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 earnings per share. Equities analysts forecast that Infinera Corporation will post ($0.45) EPS for the current year.

In other news, President David F. Welch sold 40,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $12.09, for a total transaction of $483,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President David F. Welch sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

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About Infinera Corporation

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Earnings History and Estimates for Infinera Corporation (NASDAQ:INFN)

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