$86.05 Million in Sales Expected for ShoreTel, Inc. (SHOR) This Quarter
Analysts expect ShoreTel, Inc. (NASDAQ:SHOR) to announce $86.05 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for ShoreTel’s earnings, with the highest sales estimate coming in at $86.96 million and the lowest estimate coming in at $85.20 million. ShoreTel posted sales of $86.27 million during the same quarter last year, which suggests a negative year over year growth rate of 0.3%. The business is expected to issue its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that ShoreTel will report full-year sales of $86.05 million for the current financial year, with estimates ranging from $348.00 million to $351.70 million. For the next year, analysts anticipate that the business will report sales of $0.00 per share. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow ShoreTel.
ShoreTel (NASDAQ:SHOR) last announced its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The company had revenue of $95.72 million for the quarter, compared to analysts’ expectations of $90.69 million. ShoreTel had a negative return on equity of 0.67% and a negative net margin of 3.48%.
A number of analysts have commented on the company. BidaskClub raised ShoreTel from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Lake Street Capital lowered ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 target price for the company. in a report on Monday, July 31st. Sidoti lowered ShoreTel from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Northland Securities lowered ShoreTel from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $10.00 to $7.50 in a report on Friday, July 28th. Finally, William Blair lowered ShoreTel from an “outperform” rating to a “market perform” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.17.
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ShoreTel (SHOR) opened at 7.45 on Friday. ShoreTel has a 12 month low of $5.55 and a 12 month high of $8.50. The stock’s market cap is $510.45 million. The company’s 50 day moving average price is $6.60 and its 200 day moving average price is $6.36.
Several institutional investors have recently added to or reduced their stakes in SHOR. FMR LLC purchased a new position in ShoreTel during the fourth quarter worth about $307,000. Teachers Advisors LLC increased its position in ShoreTel by 59.7% in the fourth quarter. Teachers Advisors LLC now owns 202,971 shares of the communications equipment provider’s stock worth $1,451,000 after buying an additional 75,841 shares during the period. Paragon Capital Management Ltd purchased a new position in ShoreTel during the first quarter worth about $278,000. Wells Fargo & Company MN increased its position in ShoreTel by 3.3% in the first quarter. Wells Fargo & Company MN now owns 47,472 shares of the communications equipment provider’s stock worth $292,000 after buying an additional 1,500 shares during the period. Finally, Stoneridge Investment Partners LLC purchased a new position in ShoreTel during the first quarter worth about $304,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.
ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.
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