Wall Street brokerages expect that Vonage Holdings Corp. (NYSE:VG) will post $0.09 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Vonage’s earnings. The highest EPS estimate is $0.11 and the lowest is $0.07. Vonage posted earnings of $0.07 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The firm is expected to issue its next earnings results before the market opens on Friday, November 2nd.
On average, analysts expect that Vonage will report full year earnings of $0.36 per share for the current financial year, with EPS estimates ranging from $0.33 to $0.40. For the next financial year, analysts expect that the business will report earnings of $0.34 per share, with EPS estimates ranging from $0.25 to $0.38. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Vonage.
Vonage (NYSE:VG) last released its earnings results on Wednesday, August 1st. The technology company reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. The firm had revenue of $260.00 million for the quarter, compared to analysts’ expectations of $254.95 million. Vonage had a negative net margin of 1.14% and a positive return on equity of 16.92%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share.
A number of research analysts have weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Vonage in a research note on Monday, September 24th. Citigroup boosted their target price on shares of Vonage to $16.00 and gave the company a “buy” rating in a research note on Monday, July 16th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Vonage from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price (up from $13.00) on shares of Vonage in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Vonage presently has an average rating of “Buy” and an average price target of $12.83.
VG opened at $13.87 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.69 and a current ratio of 0.70. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 49.54, a P/E/G ratio of 7.79 and a beta of -0.06. Vonage has a twelve month low of $7.85 and a twelve month high of $14.73.
In other news, CEO Alan Masarek sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $14.32, for a total value of $7,160,000.00. Following the sale, the chief executive officer now owns 495,189 shares of the company’s stock, valued at $7,091,106.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Vinod Lala sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $13.55, for a total transaction of $508,125.00. Following the completion of the sale, the insider now directly owns 37,500 shares in the company, valued at approximately $508,125. The disclosure for this sale can be found here. In the last three months, insiders sold 2,317,561 shares of company stock worth $32,332,149. Insiders own 8.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC bought a new stake in Vonage during the 3rd quarter worth approximately $1,466,000. Clarus Wealth Advisors bought a new stake in Vonage during the 3rd quarter worth approximately $287,000. Northern Trust Corp increased its holdings in Vonage by 8.0% during the 2nd quarter. Northern Trust Corp now owns 2,866,872 shares of the technology company’s stock worth $36,955,000 after acquiring an additional 212,850 shares during the period. Moody Aldrich Partners LLC bought a new stake in Vonage during the 2nd quarter worth approximately $2,329,000. Finally, Bank of New York Mellon Corp increased its holdings in Vonage by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,433 shares of the technology company’s stock worth $35,221,000 after acquiring an additional 137,582 shares during the period. 84.92% of the stock is currently owned by institutional investors.
Vonage Company Profile
Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.
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