Equities research analysts predict that Vonage Holdings Corp. (NYSE:VG) will report $0.09 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued 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 during the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The company is expected to announce its next earnings report on Tuesday, November 6th.
On average, analysts expect that Vonage will report full-year earnings of $0.38 per share for the current year, with EPS estimates ranging from $0.34 to $0.40. For the next financial year, analysts forecast that the company will report earnings of $0.37 per share, with EPS estimates ranging from $0.25 to $0.46. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Vonage.
Vonage (NYSE:VG) last released its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $260.00 million during the quarter, compared to analyst estimates of $254.95 million. Vonage had a negative net margin of 1.14% and a positive return on equity of 16.92%. Vonage’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS.
Several research analysts have recently issued reports on VG shares. William Blair restated a “buy” rating on shares of Vonage in a report on Thursday, June 28th. Citigroup boosted their price objective on shares of Vonage to $16.00 and gave the stock a “buy” rating in a report on Monday, July 16th. They noted that the move was a valuation call. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective (up previously from $13.00) on shares of Vonage in a report on Wednesday, August 1st. Finally, Zacks Investment Research downgraded shares of Vonage from a “buy” rating to a “hold” rating in a report on Saturday, August 4th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.36.
Vonage stock opened at $14.08 on Tuesday. Vonage has a fifty-two week low of $7.66 and a fifty-two week high of $14.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.70 and a quick ratio of 0.69. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 7.63 and a beta of -0.08.
In other Vonage news, Director Stephen Fisher sold 163,951 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $13.33, for a total value of $2,185,466.83. Following the completion of the sale, the director now owns 80,409 shares of the company’s stock, valued at $1,071,851.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan Masarek sold 500,000 shares of the company’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 transaction of $7,160,000.00. Following the completion of the sale, the chief executive officer now directly owns 495,189 shares of the company’s stock, valued at approximately $7,091,106.48. The disclosure for this sale can be found here. Insiders sold 2,338,894 shares of company stock worth $32,547,811 over the last 90 days. 8.70% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Amalgamated Bank increased its position in shares of Vonage by 21.3% during the second quarter. Amalgamated Bank now owns 35,945 shares of the technology company’s stock worth $463,000 after acquiring an additional 6,305 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Vonage by 18.7% during the 2nd quarter. American Century Companies Inc. now owns 885,448 shares of the technology company’s stock worth $11,413,000 after buying an additional 139,355 shares during the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Vonage during the 2nd quarter worth about $1,433,000. Comerica Bank lifted its stake in shares of Vonage by 4.5% during the 2nd quarter. Comerica Bank now owns 228,380 shares of the technology company’s stock worth $3,072,000 after buying an additional 9,876 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Vonage by 235.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 126,043 shares of the technology company’s stock worth $1,342,000 after buying an additional 88,442 shares during the last quarter. 84.94% of the stock is 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.
Further Reading: Price to Earnings Ratio (PE)
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