Oppenheimer Holdings Equities Analysts Cut Earnings Estimates for Nuance Communications, Inc. (NASDAQ:NUAN)
Nuance Communications, Inc. (NASDAQ:NUAN) – Analysts at Oppenheimer Holdings dropped their FY2017 earnings estimates for Nuance Communications in a report released on Wednesday. Oppenheimer Holdings analyst S. Eyal now anticipates that the software maker will earn $0.59 per share for the year, down from their prior forecast of $0.73. Oppenheimer Holdings currently has a “Outperform” rating and a $23.00 target price on the stock. Oppenheimer Holdings also issued estimates for Nuance Communications’ Q2 2018 earnings at $0.18 EPS and Q3 2018 earnings at $0.17 EPS.
Several other research firms have also issued reports on NUAN. Zacks Investment Research lowered shares of Nuance Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 17th. Barclays PLC restated a “buy” rating and set a $22.00 price target on shares of Nuance Communications in a research report on Friday, May 12th. Deutsche Bank AG restated a “buy” rating and set a $25.00 price target on shares of Nuance Communications in a research report on Monday, June 12th. Stifel Nicolaus upped their price target on shares of Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, May 10th. Finally, Morgan Stanley restated an “equal weight” rating and set a $18.00 price target (down from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.11.
TRADEMARK VIOLATION NOTICE: “Oppenheimer Holdings Equities Analysts Cut Earnings Estimates for Nuance Communications, Inc. (NASDAQ:NUAN)” was published by American Banking News and is owned by of American Banking News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/08/11/oppenheimer-holdings-equities-analysts-cut-earnings-estimates-for-nuance-communications-inc-nasdaqnuan.html.
Shares of Nuance Communications (NUAN) traded up 0.92% on Friday, reaching $16.51. The company’s stock had a trading volume of 299,429 shares. The firm’s market cap is $4.75 billion. The stock has a 50 day moving average of $17.41 and a 200-day moving average of $17.43. Nuance Communications has a 12 month low of $13.44 and a 12 month high of $19.93.
Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.09. The company had revenue of $495.60 million for the quarter, compared to analyst estimates of $495.57 million. Nuance Communications had a positive return on equity of 14.76% and a negative net margin of 3.38%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share.
Several hedge funds have recently bought and sold shares of NUAN. Daiwa Securities Group Inc. raised its stake in Nuance Communications by 19.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock worth $118,000 after buying an additional 1,100 shares in the last quarter. Commonwealth Bank of Australia raised its stake in Nuance Communications by 29.6% in the second quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock worth $121,000 after buying an additional 1,600 shares in the last quarter. Ledyard National Bank raised its stake in Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after buying an additional 330 shares in the last quarter. IFP Advisors Inc raised its stake in Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock worth $143,000 after buying an additional 400 shares in the last quarter. Finally, World Asset Management Inc purchased a new stake in Nuance Communications during the first quarter worth $180,000. Institutional investors own 84.01% of the company’s stock.
In other news, CEO Paul Ricci sold 139,267 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total transaction of $2,659,999.70. Following the completion of the sale, the chief executive officer now directly owns 2,090,036 shares in the company, valued at $39,919,687.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel David Tempesta sold 7,500 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $17.36, for a total transaction of $130,200.00. Following the sale, the insider now owns 270,810 shares of the company’s stock, valued at $4,701,261.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,267 shares of company stock valued at $3,518,245. 1.67% of the stock is currently owned by company insiders.
Nuance Communications Company Profile
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
Receive News & Ratings for Nuance Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.