Analysts predict that ShoreTel, Inc. (NASDAQ:SHOR) will report sales of $86.05 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for ShoreTel’s earnings, with the lowest sales estimate coming in at $85.20 million and the highest estimate coming in at $86.96 million. ShoreTel reported sales of $86.27 million during the same quarter last year, which indicates a negative year over year growth rate of 0.3%. The firm is scheduled to issue its next earnings results on Thursday, October 26th.

On average, analysts expect that ShoreTel will report full-year sales of $86.05 million for the current year, with estimates ranging from $348.00 million to $351.70 million. For the next year, analysts forecast that the business will post sales of $0.00 per share. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ShoreTel.

ShoreTel (NASDAQ:SHOR) last issued its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $95.72 million for the quarter, compared to analyst estimates of $90.69 million. ShoreTel had a negative return on equity of 0.67% and a negative net margin of 3.48%.

SHOR has been the topic of a number of recent research reports. ValuEngine cut shares of ShoreTel from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research cut shares of ShoreTel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. Northland Securities restated a “buy” rating and issued a $10.00 price objective on shares of ShoreTel in a report on Tuesday, July 4th. William Blair cut shares of ShoreTel from an “outperform” rating to a “market perform” rating in a report on Thursday, July 27th. Finally, Sidoti cut shares of ShoreTel from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. ShoreTel currently has an average rating of “Hold” and a consensus target price of $7.17.

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Shares of ShoreTel (NASDAQ SHOR) opened at 7.475 on Thursday. The stock has a 50 day moving average price of $7.19 and a 200-day moving average price of $6.39. ShoreTel has a one year low of $5.55 and a one year high of $8.50. The company’s market capitalization is $512.16 million.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of ShoreTel by 0.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 110,743 shares of the communications equipment provider’s stock worth $642,000 after buying an additional 390 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of ShoreTel by 1.7% in the second quarter. Goldman Sachs Group Inc. now owns 48,475 shares of the communications equipment provider’s stock worth $281,000 after buying an additional 815 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of ShoreTel by 3.3% in the first quarter. Wells Fargo & Company MN now owns 47,472 shares of the communications equipment provider’s stock worth $292,000 after buying an additional 1,500 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of ShoreTel by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 56,377 shares of the communications equipment provider’s stock worth $327,000 after buying an additional 2,668 shares in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About ShoreTel

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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