Polycom Inc. (PLCM) Releases Q1 Earnings Guidance
Polycom Inc. (NASDAQ:PLCM) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.13-0.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.14, Analyst RN reports. The company issued revenue guidance of $322-332 million, compared to the consensus revenue estimate of $330.39 million.
Polycom Inc. (NASDAQ:PLCM) traded down 0.93% during mid-day trading on Wednesday, hitting $11.77. 3,073,671 shares of the company’s stock traded hands. Polycom Inc. has a 1-year low of $9.00 and a 1-year high of $12.11. The stock’s 50-day moving average is $11.15 and its 200-day moving average is $10.70. The company’s market cap is $2.006 billion.
Polycom (NASDAQ:PLCM) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.01. The company had revenue of $348.00 million for the quarter, compared to the consensus estimate of $341.62 million. During the same quarter last year, the company posted $0.17 earnings per share. Polycom’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that Polycom Inc. will post $0.53 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. initiated coverage on shares of Polycom in a research note to investors on Tuesday, December 10th. They set a neutral rating on the stock. On a related note, analysts at Zacks reiterated a neutral rating on shares of Polycom in a research note to investors on Tuesday, November 12th. They now have a $11.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Polycom from $10.00 to $11.00 in a research note to investors on Thursday, October 24th. They now have a market perform rating on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. Polycom has an average rating of Hold and a consensus target price of $11.00.
Polycom, Inc is a provider of unified communications (NASDAQ:PLCM) solutions and a provider of telepresence, video, voice and infrastructure solutions based on open standards.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.