Wall Street analysts expect ShoreTel, Inc. (NASDAQ:SHOR) to announce $90.69 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for ShoreTel’s earnings, with estimates ranging from $89.78 million to $91.30 million. ShoreTel reported sales of $94.59 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.1%. The firm is expected to issue its next quarterly earnings report on Thursday, August 3rd.

On average, analysts expect that ShoreTel will report full year sales of $90.69 million for the current fiscal year, with estimates ranging from $351.82 million to $353.40 million. For the next fiscal year, analysts forecast that the firm will post sales of $349.72 million per share, with estimates ranging from $348.00 million to $351.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow ShoreTel.

ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06. ShoreTel had a negative net margin of 3.43% and a negative return on equity of 1.15%. The firm had revenue of $87.70 million for the quarter, compared to analyst estimates of $84.03 million. During the same period last year, the firm posted ($0.06) EPS. ShoreTel’s quarterly revenue was up 2.9% on a year-over-year basis.

Several equities research analysts have weighed in on SHOR shares. Zacks Investment Research lowered ShoreTel from a “buy” rating to a “hold” rating in a research report on Thursday, March 30th. ValuEngine lowered ShoreTel from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Northland Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of ShoreTel in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.88.

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A number of large investors have recently made changes to their positions in SHOR. PEAK6 Investments L.P. increased its stake in shares of ShoreTel by 92.9% in the first quarter. PEAK6 Investments L.P. now owns 22,686 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 10,927 shares in the last quarter. Princeton Alpha Management LP acquired a new stake in shares of ShoreTel during the first quarter valued at about $159,000. Stevens Capital Management LP acquired a new stake in shares of ShoreTel during the first quarter valued at about $174,000. Fox Run Management L.L.C. acquired a new stake in shares of ShoreTel during the second quarter valued at about $179,000. Finally, American International Group Inc. increased its stake in shares of ShoreTel by 7.1% in the first quarter. American International Group Inc. now owns 41,452 shares of the communications equipment provider’s stock valued at $255,000 after buying an additional 2,757 shares in the last quarter. 87.23% of the stock is owned by hedge funds and other institutional investors.

ShoreTel (NASDAQ:SHOR) remained flat at $5.75 during trading on Friday. 148,480 shares of the company’s stock were exchanged. The firm’s market cap is $392.58 million. ShoreTel has a 12 month low of $5.55 and a 12 month high of $8.56. The firm’s 50-day moving average price is $6.01 and its 200 day moving average price is $6.50.

ShoreTel Company Profile

ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.

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