$0.09 EPS Expected for Vonage Holdings Corp. (VG) This Quarter
Wall Street brokerages expect that Vonage Holdings Corp. (NYSE:VG) will post earnings per share (EPS) of $0.09 for the current quarter, according to Zacks. Five analysts have provided estimates for Vonage’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.12. Vonage posted earnings of $0.03 per share in the same quarter last year, which would suggest a positive year over year growth rate of 200%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, February 13th.
On average, analysts expect that Vonage will report full-year earnings of $0.28 per share for the current financial year, with EPS estimates ranging from $0.27 to $0.31. For the next year, analysts expect that the company will report earnings of $0.34 per share, with EPS estimates ranging from $0.24 to $0.41. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Vonage.
Vonage (NYSE:VG) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. The business had revenue of $253.10 million for the quarter, compared to analysts’ expectations of $249.02 million. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS.
Several equities analysts have recently weighed in on VG shares. Robert W. Baird reissued a “buy” rating and set a $9.00 target price on shares of Vonage in a research report on Friday, September 1st. Northland Securities reissued a “buy” rating and set a $9.50 target price on shares of Vonage in a research report on Tuesday, September 5th. Citigroup reissued a “buy” rating and set a $9.75 target price on shares of Vonage in a research report on Wednesday, September 13th. Needham & Company LLC reissued a “buy” rating and set a $9.50 target price on shares of Vonage in a research report on Wednesday, September 27th. Finally, Craig Hallum reissued a “buy” rating and set a $11.00 target price (up previously from $10.00) on shares of Vonage in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $9.94.
In other Vonage news, Director Jeffrey A. Citron sold 414,913 shares of the company’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $8.12, for a total value of $3,369,093.56. Following the transaction, the director now owns 12,676,047 shares of the company’s stock, valued at approximately $102,929,501.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey A. Citron sold 138,303 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total value of $1,127,169.45. Following the completion of the transaction, the director now directly owns 12,676,047 shares in the company, valued at approximately $103,309,783.05. The disclosure for this sale can be found here. Insiders sold a total of 1,677,429 shares of company stock worth $15,273,575 in the last ninety days. 14.05% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. World Asset Management Inc bought a new position in shares of Vonage during the 3rd quarter worth $112,000. Bayesian Capital Management LP bought a new position in shares of Vonage during the 2nd quarter worth $118,000. Aperio Group LLC grew its position in shares of Vonage by 2.2% during the 2nd quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after buying an additional 433 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Vonage during the 3rd quarter worth $148,000. Finally, SG Americas Securities LLC grew its position in shares of Vonage by 108.4% during the 2nd quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock worth $160,000 after buying an additional 12,701 shares in the last quarter. 83.99% of the stock is currently owned by institutional investors and hedge funds.
Vonage (NYSE VG) traded up $0.03 during midday trading on Thursday, hitting $10.31. The stock had a trading volume of 501,200 shares, compared to its average volume of 2,492,412. The company has a market cap of $2,340.00, a P/E ratio of 114.56, a P/E/G ratio of 7.23 and a beta of -0.04. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.51. Vonage has a 52-week low of $5.74 and a 52-week high of $10.56.
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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