Nuance Communications Inc. (NUAN) Issues Q1 Earnings Guidance
Nuance Communications Inc. (NASDAQ:NUAN) issued an update on its first quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.32-0.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.40. The company issued revenue guidance of $483-497 million, compared to the consensus revenue estimate of $505.06 million.Nuance Communications also updated its FY17 guidance to $1.53-1.63 EPS.
Nuance Communications Inc. (NASDAQ:NUAN) opened at 15.55 on Friday. The stock’s 50 day moving average price is $14.15 and its 200-day moving average price is $15.31. Nuance Communications Inc. has a one year low of $13.44 and a one year high of $21.83. The firm’s market cap is $4.35 billion.
Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Thursday, November 17th. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The firm had revenue of $512.40 million for the quarter, compared to analyst estimates of $505.10 million. Nuance Communications had a positive return on equity of 14.07% and a negative net margin of 2.15%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. Analysts forecast that Nuance Communications Inc. will post $1.51 earnings per share for the current year.
NUAN has been the topic of several recent analyst reports. Deutsche Bank AG reduced their target price on Nuance Communications from $30.00 to $25.00 and set a buy rating on the stock in a report on Tuesday, August 9th. Zacks Investment Research upgraded Nuance Communications from a strong sell rating to a hold rating in a report on Wednesday, October 12th. Oppenheimer Holdings Inc. restated an outperform rating and issued a $26.00 price target on shares of Nuance Communications in a report on Thursday, August 11th. Finally, Barclays PLC set a $19.00 price target on Nuance Communications and gave the company a hold rating in a report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Nuance Communications currently has a consensus rating of Buy and a consensus target price of $22.38.
In related news, VP Adam Bruce Bowden sold 4,000 shares of Nuance Communications stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $13.96, for a total value of $55,840.00. Following the sale, the vice president now owns 170,195 shares of the company’s stock, valued at $2,375,922.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.23% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Nuance Communications by 150.0% in the second quarter. AQR Capital Management LLC now owns 4,429,776 shares of the company’s stock worth $69,238,000 after buying an additional 2,657,896 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Nuance Communications by 98.5% in the second quarter. Pictet Asset Management Ltd. now owns 1,752,159 shares of the company’s stock worth $29,296,000 after buying an additional 869,615 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Nuance Communications during the second quarter worth $13,344,000. Canada Pension Plan Investment Board increased its position in shares of Nuance Communications by 55.2% in the second quarter. Canada Pension Plan Investment Board now owns 1,424,251 shares of the company’s stock worth $22,261,000 after buying an additional 506,525 shares during the period. Finally, Analytic Investors LLC acquired a new position in shares of Nuance Communications during the second quarter worth $7,730,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare; Mobile and Consumer; Enterprise, and Imaging. The Company offers its customers solutions in automated speech recognition; capabilities for natural language understanding; dialog and information management; biometric speaker authentication; text-to-speech; optical character recognition (OCR) capabilities, and domain knowledge, along with professional services and implementation support.
Receive News & Stock Ratings for Nuance Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications Inc. and related stocks with our FREE daily email newsletter.