Vonage Holdings Corp. (NYSE:VG) to Post Q4 2017 Earnings of $0.09 Per Share, Oppenheimer Holdings Forecasts
Vonage Holdings Corp. (NYSE:VG) – Equities research analysts at Oppenheimer Holdings upped their Q4 2017 earnings estimates for shares of Vonage Holdings Corp. in a research note issued on Thursday. Oppenheimer Holdings analyst T. Horan now expects that the technology company will earn $0.09 per share for the quarter, up from their prior estimate of $0.08. Oppenheimer Holdings also issued estimates for Vonage Holdings Corp.’s FY2018 earnings at $0.31 EPS.
Several other equities research analysts have also recently commented on VG. Zacks Investment Research cut shares of Vonage Holdings Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. William Blair reissued an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, May 24th. Finally, Dougherty & Co dropped their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Vonage Holdings Corp. currently has an average rating of “Buy” and an average price target of $8.31.
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Shares of Vonage Holdings Corp. (NYSE:VG) opened at 7.66 on Monday. The stock has a market cap of $1.70 billion, a P/E ratio of 125.57 and a beta of -0.01. Vonage Holdings Corp. has a 52-week low of $5.43 and a 52-week high of $7.88. The company has a 50-day moving average of $6.63 and a 200 day moving average of $6.59.
Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, meeting 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 the consensus estimate of $242.05 million. During the same quarter in the prior year, the firm earned $0.08 EPS. Vonage Holdings Corp.’s revenue for the quarter was up 7.8% on a year-over-year basis.
In other news, SVP Mcgonigal Graham sold 44,523 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $7.25, for a total transaction of $322,791.75. Following the sale, the senior vice president now owns 145,673 shares in the company, valued at $1,056,129.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $6.77, for a total value of $2,808,961.01. Following the sale, the director now owns 12,664,157 shares in the company, valued at approximately $85,736,342.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,069,375 shares of company stock valued at $28,295,719. Corporate insiders own 14.05% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC purchased a new position in shares of Vonage Holdings Corp. during the first quarter valued at about $105,000. Fifth Third Bancorp raised 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 last quarter. Eqis Capital Management Inc. raised 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 last quarter. Karp Capital Management Corp bought a new position in Vonage Holdings Corp. during the first quarter valued at $126,000. Finally, Aperio Group LLC raised 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 last quarter. Institutional investors own 76.82% of the company’s stock.
About Vonage Holdings Corp.
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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