$0.05 Earnings Per Share Expected for AudioCodes Ltd. (NASDAQ:AUDC) This Quarter
Wall Street brokerages expect that AudioCodes Ltd. (NASDAQ:AUDC) will post $0.05 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for AudioCodes’ earnings. AudioCodes reported earnings of $0.04 per share in the same quarter last year, which would suggest a positive year over year growth rate of 25%. The firm is expected to report its next earnings report before the market opens on Wednesday, July 26th.
On average, analysts expect that AudioCodes will report full-year earnings of $0.23 per share for the current year, with EPS estimates ranging from $0.22 to $0.24. For the next financial year, analysts forecast that the business will post earnings of $0.30 per share, with EPS estimates ranging from $0.28 to $0.31. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for AudioCodes.
AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings results on Wednesday, April 26th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. AudioCodes had a return on equity of 7.48% and a net margin of 11.98%. The firm had revenue of $37.40 million for the quarter, compared to the consensus estimate of $36.78 million. During the same period in the prior year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis.
A number of research firms recently commented on AUDC. Northland Securities set a $7.00 target price on shares of AudioCodes and gave the stock a “hold” rating in a report on Tuesday, July 4th. TheStreet downgraded shares of AudioCodes from a “b-” rating to a “c+” rating in a report on Wednesday, June 28th. Finally, Zacks Investment Research lowered shares of AudioCodes from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $7.42.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in AudioCodes by 13.6% in the first quarter. Morgan Stanley now owns 1,505,906 shares of the communications equipment provider’s stock valued at $10,556,000 after buying an additional 180,860 shares in the last quarter. Acadian Asset Management LLC increased its stake in AudioCodes by 8.9% in the second quarter. Acadian Asset Management LLC now owns 694,228 shares of the communications equipment provider’s stock valued at $4,157,000 after buying an additional 56,674 shares in the last quarter. Norges Bank acquired a new stake in AudioCodes during the fourth quarter valued at approximately $2,940,000. Renaissance Technologies LLC increased its stake in AudioCodes by 62.8% in the fourth quarter. Renaissance Technologies LLC now owns 371,272 shares of the communications equipment provider’s stock valued at $2,358,000 after buying an additional 143,262 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its stake in AudioCodes by 34.0% in the first quarter. State of Tennessee Treasury Department now owns 116,102 shares of the communications equipment provider’s stock valued at $814,000 after buying an additional 29,482 shares in the last quarter. Hedge funds and other institutional investors own 28.73% of the company’s stock.
AudioCodes (NASDAQ AUDC) traded up 2.87% on Tuesday, reaching $6.81. The company’s stock had a trading volume of 51,234 shares. The company has a 50 day moving average of $6.34 and a 200 day moving average of $6.57. The firm has a market capitalization of $217.82 million, a price-to-earnings ratio of 13.27 and a beta of 0.54. AudioCodes has a 52 week low of $4.05 and a 52 week high of $7.26.
AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.
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