Zacks: Brokerages Anticipate Allot Communications Ltd. (ALLT) Will Announce Quarterly Sales of $18.80 Million
Wall Street analysts expect that Allot Communications Ltd. (NASDAQ:ALLT) will announce $18.80 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Allot Communications’ earnings, with the lowest sales estimate coming in at $18.60 million and the highest estimate coming in at $18.99 million. Allot Communications posted sales of $22.96 million during the same quarter last year, which suggests a negative year-over-year growth rate of 18.1%. The firm is expected to report its next quarterly earnings results before the market opens on Tuesday, August 1st.
On average, analysts expect that Allot Communications will report full year sales of $18.80 million for the current fiscal year, with estimates ranging from $80.49 million to $82.00 million. For the next fiscal year, analysts expect that the company will post sales of $89.63 million per share, with estimates ranging from $87.66 million to $91.60 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Allot Communications.
Allot Communications (NASDAQ:ALLT) last announced its quarterly earnings results on Tuesday, May 9th. The communications equipment provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.10. The company had revenue of $18.50 million during the quarter, compared to analyst estimates of $19.62 million. Allot Communications had a negative net margin of 10.23% and a negative return on equity of 4.28%. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS.
A number of research analysts recently commented on ALLT shares. ValuEngine downgraded shares of Allot Communications from a “hold” rating to a “sell” rating in a research report on Thursday, May 18th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Allot Communications in a research report on Sunday, May 14th. Finally, Zacks Investment Research raised shares of Allot Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $5.00.
Shares of Allot Communications (ALLT) traded down 1.38% during trading on Thursday, hitting $5.00. 43,050 shares of the company’s stock were exchanged. The firm’s market capitalization is $165.46 million. Allot Communications has a 1-year low of $4.50 and a 1-year high of $5.67. The stock’s 50 day moving average is $5.04 and its 200 day moving average is $4.94.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Soros Fund Management LLC increased its position in shares of Allot Communications by 2.4% in the first quarter. Soros Fund Management LLC now owns 3,406,666 shares of the communications equipment provider’s stock worth $16,216,000 after buying an additional 80,500 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Allot Communications by 71.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,207,993 shares of the communications equipment provider’s stock worth $10,510,000 after buying an additional 918,397 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Allot Communications by 1.3% in the first quarter. Renaissance Technologies LLC now owns 681,100 shares of the communications equipment provider’s stock worth $3,242,000 after buying an additional 8,600 shares during the last quarter. S Squared Technology LLC bought a new position in shares of Allot Communications during the first quarter worth approximately $1,409,000. Finally, Horrell Capital Management Inc. increased its position in shares of Allot Communications by 64.3% in the second quarter. Horrell Capital Management Inc. now owns 271,100 shares of the communications equipment provider’s stock worth $1,385,000 after buying an additional 106,100 shares during the last quarter. 42.38% of the stock is currently owned by hedge funds and other institutional investors.
About Allot Communications
Allot Communications Ltd. (Allot) is a global provider of security and monetization solutions that enable mobile, fixed and enterprise service providers to protect and personalize the digital experience. The Company has a global and diverse customer base composed of mobile and fixed broadband service providers, cable operators, private networks, data centers, governments and enterprises, such as financial and educational institutions.
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