Polycom Inc (NASDAQ:PLCM) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Polycom Inc (NASDAQ:PLCM) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the stock. One analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.00.
Several brokerages have weighed in on PLCM. TheStreet lowered Polycom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Zacks Investment Research raised Polycom from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Finally, BMO Capital Markets reaffirmed a “neutral” rating on shares of Polycom in a research report on Friday, July 8th.
Polycom (NASDAQ:PLCM) remained flat at $12.47 during midday trading on Wednesday. The firm’s 50 day moving average price is $12.46 and its 200-day moving average price is $11.95. Polycom has a 52 week low of $8.79 and a 52 week high of $14.09.
Polycom (NASDAQ:PLCM) last issued its earnings results on Thursday, July 21st. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Polycom had a return on equity of 5.17% and a net margin of 1.79%. The firm had revenue of $287.80 million for the quarter, compared to analyst estimates of $294.97 million. During the same period last year, the company earned $0.22 earnings per share. Equities research analysts anticipate that Polycom will post $0.85 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cowen Group Inc. purchased a new position in Polycom during the second quarter worth about $16,578,000. State Street Corp raised its position in Polycom by 2.2% in the first quarter. State Street Corp now owns 4,402,917 shares of the company’s stock worth $49,092,000 after buying an additional 94,155 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Polycom by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,928,499 shares of the company’s stock worth $43,803,000 after buying an additional 114,717 shares during the last quarter. Nordea Investment Management AB raised its position in Polycom by 230.9% in the second quarter. Nordea Investment Management AB now owns 53,081 shares of the company’s stock worth $597,000 after buying an additional 37,041 shares during the last quarter. Finally, Menta Capital LLC raised its position in Polycom by 71.1% in the first quarter. Menta Capital LLC now owns 63,315 shares of the company’s stock worth $706,000 after buying an additional 26,300 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.
Polycom, Inc (Polycom) offers solutions for voice, video and content sharing and a line of support and service solutions. The Company operates in Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC) geographic segments. The Company’s video, voice and content-management and content-sharing solutions include applications for mobile devices, browser-based video collaboration, cloud-delivered services, conference room systems and home/work office solutions and immersive telepresence.
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