Harmonic Inc. HLIT recently announced that TF1 — a major French TV channel — has selected its Ultra HD (UHD) contribution and distribution solution for broadcasting purpose. Harmonic's platform will enable TF1 to deliver live UHD coverage of popular sports events directly to French service providers.
Harmonic’s UHD solution enables operators to deliver high-quality video with greater bandwidth efficiency. Notably, the company’s ViBE CP9000 HD/UHD contribution solution is deployed at the front end of the TF1 broadcast chain. This helps in the creation of pristine compressed video besides saving bandwidth capacity.
Whether simplifying OTT video delivery via innovative cloud and software-as-a-service (SaaS) technologies or powering the delivery of gigabit internet cable services, Harmonic seems to be changing the way media companies and service providers monetize live and VOD content on every screen. We believe the company’s strong focus in developing innovative products and solutions for media companies and service providers along with its market diversity bodes well for future growth.
Generally, operator's ability to deliver more HD services leads to an improvement in the company’s position within the marketplace and increases revenues. Harmonic looks promising on this front as well. In the past six months, this Zacks Rank #3 (Hold) company has outperformed the industry it belongs to. The stock has gained 2.4% against the industry’s 6.3% decline.
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However, the company’s recent earnings streak has failed to impress investors. Harmonic has a choppy earnings surprise history with only two beats over the trailing four quarters.
Key Picks
Some better-ranked stocks from the same space include Comtech Telecommunications Corp. CMTL, Corning Incorporated GLW and Avnet, Inc. AVT. While Comtech Telecommunications sports a Zacks Rank #1 (Strong Buy), Corning and Avnet carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Comtech Telecommunications surpassed estimates in the preceding four quarters, with an average positive earnings surprise of 123.70%.
Corning Incorporated exceeded estimates in the trailing four quarters, with an average positive earnings surprise of 4.37%.
Avnet has outpaced estimates in the preceding four quarters, with an average earnings surprise of 7.68%.
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