ConvergeOne Holdings Inc (NASDAQ:CVON) – Investment analysts at William Blair decreased their Q3 2018 earnings per share estimates for shares of ConvergeOne in a research note issued to investors on Tuesday, October 23rd. William Blair analyst M. Nolan now expects that the company will earn $0.20 per share for the quarter, down from their prior estimate of $0.22. William Blair also issued estimates for ConvergeOne’s Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.91 EPS, FY2019 earnings at $1.04 EPS and FY2020 earnings at $1.13 EPS.
ConvergeOne (NASDAQ:CVON) last announced its quarterly earnings data on Thursday, August 9th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. The firm had revenue of $391.01 million during the quarter, compared to analyst estimates of $354.63 million.
Separately, Zacks Investment Research downgraded shares of ConvergeOne from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $11.50.
Shares of CVON stock opened at $8.98 on Thursday. ConvergeOne has a fifty-two week low of $7.95 and a fifty-two week high of $10.83. The company has a current ratio of 1.10, a quick ratio of 1.04 and a debt-to-equity ratio of -5.41. The stock has a market capitalization of $678.41 million, a PE ratio of 23.63 and a beta of 0.55.
Large investors have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new stake in ConvergeOne during the 1st quarter worth about $2,813,000. Rhumbline Advisers acquired a new stake in ConvergeOne during the 2nd quarter worth about $198,000. Bank of New York Mellon Corp acquired a new stake in ConvergeOne during the 2nd quarter worth about $651,000. Schwab Charles Investment Management Inc. acquired a new stake in ConvergeOne during the 2nd quarter worth about $1,224,000. Finally, BlackRock Inc. grew its position in ConvergeOne by 425.5% during the 2nd quarter. BlackRock Inc. now owns 1,222,314 shares of the company’s stock worth $11,476,000 after purchasing an additional 989,695 shares during the period. Hedge funds and other institutional investors own 18.97% of the company’s stock.
ConvergeOne Company Profile
ConvergeOne Holdings, Inc provides collaboration and technology solutions for large and medium enterprises in the United States. The company offers unified communications solutions, including communications applications, such as voice, email, presence, chat/text, and video technologies; voice and text messaging solutions; mobility and bring your own device solutions for business continuity with the seamless connection of mobile, landline, cellular, and Wi-Fi enabled devices; conferencing solutions, as well as streaming and recording, and security services; and software integration services.
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