Zacks: Brokerages Anticipate ShoreTel, Inc. (NASDAQ:SHOR) Will Post Earnings of -$0.05 Per Share
Wall Street brokerages expect that ShoreTel, Inc. (NASDAQ:SHOR) will report earnings of ($0.05) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ShoreTel’s earnings. The highest EPS estimate is ($0.03) and the lowest is ($0.08). ShoreTel posted earnings per share of ($0.04) during the same quarter last year, which would suggest a negative year over year growth rate of 25%. The company is expected to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that ShoreTel will report full-year earnings of ($0.13) per share for the current fiscal year, with EPS estimates ranging from ($0.17) to ($0.05). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for ShoreTel.
ShoreTel (NASDAQ:SHOR) last posted its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. ShoreTel had a negative net margin of 3.48% and a negative return on equity of 0.67%. The firm had revenue of $95.72 million for the quarter, compared to analysts’ expectations of $90.69 million.
A number of research firms have recently commented on SHOR. Northland Securities cut shares of ShoreTel from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $7.50 in a report on Friday, July 28th. BidaskClub upgraded shares of ShoreTel from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Lake Street Capital cut shares of ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 price target on the stock. in a report on Monday, July 31st. Sidoti downgraded shares of ShoreTel from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Finally, William Blair downgraded shares of ShoreTel from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. ShoreTel has a consensus rating of “Hold” and an average price target of $7.17.
ShoreTel (NASDAQ SHOR) remained flat at $7.50 during trading on Friday. The company had a trading volume of 1,619,713 shares. The stock’s 50 day moving average is $6.03 and its 200 day moving average is $6.31. The firm’s market capitalization is $513.88 million. ShoreTel has a 12 month low of $5.55 and a 12 month high of $8.56.
A number of hedge funds and other institutional investors have recently modified their holdings of SHOR. Marshall Wace North America L.P. bought a new position in shares of ShoreTel during the second quarter worth $162,000. Lapides Asset Management LLC bought a new position in shares of ShoreTel during the second quarter worth $2,832,000. Rhumbline Advisers increased its position in shares of ShoreTel by 4.5% in the second quarter. Rhumbline Advisers now owns 81,520 shares of the communications equipment provider’s stock worth $473,000 after buying an additional 3,477 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of ShoreTel by 1.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 258,671 shares of the communications equipment provider’s stock worth $1,501,000 after buying an additional 2,601 shares during the period. Finally, Algert Global LLC increased its position in shares of ShoreTel by 3.2% in the second quarter. Algert Global LLC now owns 155,219 shares of the communications equipment provider’s stock worth $900,000 after buying an additional 4,874 shares during the period. Institutional investors own 86.68% of the company’s stock.
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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