Vonage Holdings Corp. Expected to Earn Q4 2017 Earnings of $0.06 Per Share (VG)
Vonage Holdings Corp. (NYSE:VG) – Equities researchers at William Blair cut their Q4 2017 earnings per share (EPS) estimates for shares of Vonage Holdings Corp. in a report issued on Thursday. William Blair analyst D. Netis now anticipates that the technology company will post earnings of $0.06 per share for the quarter, down from their previous forecast of $0.07. William Blair has a “Outperform” rating on the stock.
Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The firm had revenue of $252 million during the quarter, compared to analysts’ expectations of $242.05 million. During the same quarter in the prior year, the company earned $0.08 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “Vonage Holdings Corp. Expected to Earn Q4 2017 Earnings of $0.06 Per Share (VG)” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/08/07/vonage-holdings-corp-expected-to-earn-q4-2017-earnings-of-0-06-per-share-vg.html.
A number of other research analysts have also recently weighed in on VG. Dougherty & Co dropped their price objective on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a report on Friday. Zacks Investment Research upgraded shares of Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $8.31.
Shares of Vonage Holdings Corp. (NYSE VG) opened at 7.66 on Monday. The stock has a market cap of $1.70 billion, a PE ratio of 125.57 and a beta of -0.01. The stock has a 50 day moving average of $6.63 and a 200 day moving average of $6.59. Vonage Holdings Corp. has a 12 month low of $5.43 and a 12 month high of $7.88.
In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 276,606 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $6.57, for a total transaction of $1,817,301.42. Following the completion of the transaction, the director now owns 12,664,157 shares in the company, valued at approximately $83,203,511.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $6.77, for a total transaction of $2,808,961.01. Following the transaction, the director now owns 12,664,157 shares of the company’s stock, valued at approximately $85,736,342.89. The disclosure for this sale can be found here. Insiders have sold a total of 4,069,375 shares of company stock valued at $28,295,719 in the last quarter. 14.05% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quantitative Systematic Strategies LLC purchased a new position in Vonage Holdings Corp. during the first quarter valued at approximately $105,000. Fifth Third Bancorp boosted its position in Vonage Holdings Corp. by 29.6% in the first quarter. Fifth Third Bancorp now owns 16,911 shares of the technology company’s stock valued at $107,000 after buying an additional 3,863 shares during the period. Eqis Capital Management Inc. boosted its position in Vonage Holdings Corp. by 19.8% in the first quarter. Eqis Capital Management Inc. now owns 19,230 shares of the technology company’s stock valued at $122,000 after buying an additional 3,176 shares during the period. Karp Capital Management Corp purchased a new position in Vonage Holdings Corp. during the first quarter valued at approximately $126,000. Finally, Aperio Group LLC boosted its position in Vonage Holdings Corp. by 2.2% in the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock valued at $133,000 after buying an additional 433 shares during the period. Institutional investors own 76.82% of the company’s stock.
Vonage Holdings Corp. Company Profile
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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