Zacks: Brokerages Expect Vonage Holdings Corp. (VG) Will Announce Earnings of $0.07 Per Share
Wall Street brokerages forecast that Vonage Holdings Corp. (NYSE:VG) will post earnings of $0.07 per share for the current quarter, Zacks reports. Six analysts have made estimates for Vonage Holdings Corp.’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.10. Vonage Holdings Corp. reported earnings of $0.08 per share in the same quarter last year, which indicates a negative year over year growth rate of 12.5%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Vonage Holdings Corp. will report full-year earnings of $0.28 per share for the current financial year, with EPS estimates ranging from $0.21 to $0.32. For the next year, analysts forecast that the firm will report earnings of $0.27 per share, with EPS estimates ranging from $0.20 to $0.31. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Vonage Holdings Corp..
Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $252 million during the quarter, compared to analyst estimates of $242.05 million. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS.
A number of research firms recently issued reports on VG. FBN Securities lowered Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 target price for the company. in a report on Thursday, August 10th. BidaskClub raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Dougherty & Co decreased their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a report on Friday, August 4th. Zacks Investment Research raised Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Vonage Holdings Corp. in a report on Wednesday, May 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $8.39.
Vonage Holdings Corp. (NYSE VG) traded down 0.74% on Friday, hitting $8.03. The stock had a trading volume of 2,114,364 shares. Vonage Holdings Corp. has a 52-week low of $5.65 and a 52-week high of $8.50. The company has a market cap of $1.83 billion, a P/E ratio of 100.38 and a beta of -0.01. The firm’s 50-day moving average is $7.06 and its 200-day moving average is $6.68.
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In related news, CFO David T. Pearson sold 666,666 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $7.00, for a total value of $4,666,662.00. Following the transaction, the chief financial officer now owns 948,241 shares in the company, valued at approximately $6,637,687. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David T. Pearson sold 666,667 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $7.02, for a total value of $4,680,002.34. Following the completion of the transaction, the chief financial officer now owns 948,241 shares in the company, valued at approximately $6,656,651.82. The disclosure for this sale can be found here. Insiders sold a total of 4,163,159 shares of company stock worth $29,520,570 in the last 90 days. 14.05% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Vonage Holdings Corp. by 36,952.8% in the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after buying an additional 15,711,217 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Vonage Holdings Corp. by 998.4% in the first quarter. Alliancebernstein L.P. now owns 9,866,561 shares of the technology company’s stock worth $62,357,000 after buying an additional 8,968,261 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in shares of Vonage Holdings Corp. during the second quarter worth $27,468,000. SQN Investors LP raised its stake in shares of Vonage Holdings Corp. by 111.0% in the second quarter. SQN Investors LP now owns 5,647,830 shares of the technology company’s stock worth $36,937,000 after buying an additional 2,970,716 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Vonage Holdings Corp. by 16.9% in the first quarter. Wellington Management Group LLP now owns 17,507,400 shares of the technology company’s stock worth $110,647,000 after buying an additional 2,533,213 shares in the last quarter. 76.17% of the stock is currently owned by institutional investors.
About Vonage Holdings Corp.
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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