Equities research analysts forecast that ShoreTel Inc (NASDAQ:SHOR) will report $90.69 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for ShoreTel’s earnings, with the highest sales estimate coming in at $91.3 million and the lowest estimate coming in at $89.78 million. ShoreTel reported sales of $94.59 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.1%. The firm is scheduled to announce its next earnings report on Thursday, August 3rd.

According to Zacks, analysts expect that ShoreTel will report full year sales of $90.69 million for the current fiscal year, with estimates ranging from $351.82 million to $353.4 million. For the next financial year, analysts expect that the business will post sales of $349.72 million per share, with estimates ranging from $348 million to $351.7 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow ShoreTel.

ShoreTel (NASDAQ:SHOR) last announced its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.06. The business had revenue of $87.70 million during the quarter, compared to analyst estimates of $84.03 million. ShoreTel had a negative return on equity of 3.29% and a negative net margin of 5.08%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised ShoreTel from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research report on Wednesday, May 3rd. TheStreet downgraded ShoreTel from a “c-” rating to a “d+” rating in a research report on Thursday, February 16th. Finally, Craig Hallum downgraded ShoreTel from a “buy” rating to a “hold” rating in a research report on Friday, January 27th.

Shares of ShoreTel (NASDAQ:SHOR) traded up 0.83% during trading on Thursday, reaching $6.05. The company’s stock had a trading volume of 503,029 shares. The stock’s market cap is $413.06 million. The company has a 50-day moving average price of $6.26 and a 200-day moving average price of $6.70. ShoreTel has a one year low of $5.55 and a one year high of $8.56.

Several institutional investors have recently bought and sold shares of the company. Park West Asset Management LLC increased its position in ShoreTel by 71.4% in the first quarter. Park West Asset Management LLC now owns 5,519,822 shares of the communications equipment provider’s stock worth $33,947,000 after buying an additional 2,299,483 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in ShoreTel by 9.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,904 shares of the communications equipment provider’s stock worth $270,000 after buying an additional 3,760 shares during the last quarter. Pacific Grove Capital LP increased its position in ShoreTel by 60.8% in the first quarter. Pacific Grove Capital LP now owns 724,998 shares of the communications equipment provider’s stock worth $4,459,000 after buying an additional 274,098 shares during the last quarter. PEAK6 Investments L.P. increased its position in ShoreTel by 92.9% in the first quarter. PEAK6 Investments L.P. now owns 22,686 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 10,927 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in ShoreTel by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 256,070 shares of the communications equipment provider’s stock worth $1,575,000 after buying an additional 14,145 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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ShoreTel Company Profile

ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.

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