Inteliquent Inc. (IQNT) Downgraded by Raymond James Financial Inc. to Market Perform
Inteliquent Inc. (NASDAQ:IQNT) was downgraded by equities research analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a report issued on Tuesday.
Other analysts have also issued reports about the company. BWS Financial lowered their price target on Inteliquent from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Zacks Investment Research lowered Inteliquent from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, Morgan Stanley reissued a “hold” rating on shares of Inteliquent in a research note on Thursday, June 30th.
Inteliquent (NASDAQ:IQNT) opened at 16.71 on Tuesday. The stock’s 50 day moving average price is $16.37 and its 200-day moving average price is $17.12. The company has a market cap of $572.03 million, a P/E ratio of 16.22 and a beta of 1.20. Inteliquent has a 52-week low of $14.56 and a 52-week high of $22.86.
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Inteliquent (NASDAQ:IQNT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. The firm earned $90.80 million during the quarter, compared to analyst estimates of $90.28 million. Inteliquent had a return on equity of 19.26% and a net margin of 11.17%. The business’s revenue was up 71.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts predict that Inteliquent will post $1.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Wednesday, August 24th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Monday, August 22nd. Inteliquent’s dividend payout ratio (DPR) is currently 62.75%.
In other Inteliquent news, Director Rian J. Wren sold 45,000 shares of Inteliquent stock in a transaction on Friday, July 15th. The stock was sold at an average price of $20.44, for a total value of $919,800.00. Following the sale, the director now owns 94,930 shares in the company, valued at $1,940,369.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rian J. Wren sold 15,400 shares of Inteliquent stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $20.15, for a total value of $310,310.00. Following the completion of the sale, the director now owns 80,330 shares in the company, valued at approximately $1,618,649.50. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in Inteliquent by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 48,582 shares of the company’s stock worth $966,000 after buying an additional 535 shares in the last quarter. Swiss National Bank increased its stake in Inteliquent by 2.6% in the second quarter. Swiss National Bank now owns 54,300 shares of the company’s stock worth $1,080,000 after buying an additional 1,400 shares in the last quarter. Fifth Third Bancorp increased its stake in Inteliquent by 6.4% in the second quarter. Fifth Third Bancorp now owns 26,398 shares of the company’s stock worth $525,000 after buying an additional 1,597 shares in the last quarter. American International Group Inc. increased its stake in Inteliquent by 9.2% in the second quarter. American International Group Inc. now owns 24,514 shares of the company’s stock worth $488,000 after buying an additional 2,063 shares in the last quarter. Finally, Algert Global LLC increased its stake in Inteliquent by 13.6% in the first quarter. Algert Global LLC now owns 17,571 shares of the company’s stock worth $282,000 after buying an additional 2,104 shares in the last quarter. Institutional investors own 88.98% of the company’s stock.
Inteliquent Company Profile
Inteliquent, Inc is a provider of voice telecommunications services primarily on a wholesale basis. The Company offers its services using an all-Internet Protocol (IP) network, which enables to deliver connectivity for a range of media, including voice, and data and video. The Company’s solutions enable carriers and other providers to deliver voice traffic or other services where they do not have their own network.
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