Vonage Holdings Corp. (VG) Expected to Post Earnings of $0.07 Per Share
Equities analysts predict that Vonage Holdings Corp. (NYSE:VG) will announce earnings per share (EPS) of $0.07 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Vonage Holdings Corp.’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.10. Vonage Holdings Corp. reported earnings per share of $0.08 in the same quarter last year, which would indicate a negative year over year growth rate of 12.5%. The business is expected to report its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Vonage Holdings Corp. will report full-year earnings of $0.28 per share for the current year, with EPS estimates ranging from $0.21 to $0.32. For the next fiscal year, analysts anticipate that the company will report earnings of $0.27 per share, with EPS estimates ranging from $0.20 to $0.31. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Vonage Holdings Corp..
Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The business had revenue of $252 million for the quarter, compared to analyst estimates of $242.05 million. During the same quarter last year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year.
VG has been the topic of a number of recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $9.00 price target on shares of Vonage Holdings Corp. in a research note on Friday, September 1st. William Blair reaffirmed an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, May 24th. Dougherty & Co lowered their price target on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research note on Friday, August 4th. Zacks Investment Research cut shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $8.74.
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Shares of Vonage Holdings Corp. (VG) traded down 0.25% during mid-day trading on Friday, hitting $8.10. 249,916 shares of the stock traded hands. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 101.25 and a beta of -0.09. Vonage Holdings Corp. has a 12-month low of $5.65 and a 12-month high of $8.50. The firm’s 50 day moving average price is $7.69 and its 200 day moving average price is $6.81.
In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $6.77, for a total transaction of $2,808,961.01. Following the sale, the director now directly owns 12,664,157 shares of the company’s stock, valued at approximately $85,736,342.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David T. Pearson sold 666,666 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $7.00, for a total transaction of $4,666,662.00. Following the sale, the chief financial officer now directly owns 948,241 shares in the company, valued at $6,637,687. The disclosure for this sale can be found here. Insiders have sold a total of 4,361,509 shares of company stock worth $31,121,254 over the last ninety days. 14.05% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Vonage Holdings Corp. during the 1st quarter worth about $1,192,000. Suntrust Banks Inc. lifted its holdings in shares of Vonage Holdings Corp. by 2.4% during the 1st quarter. Suntrust Banks Inc. now owns 31,164 shares of the technology company’s stock worth $196,000 after acquiring an additional 718 shares during the period. BlackRock Inc. lifted its holdings in shares of Vonage Holdings Corp. by 36,952.8% during the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after acquiring an additional 15,711,217 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of Vonage Holdings Corp. by 13.9% during the 2nd quarter. Federated Investors Inc. PA now owns 2,004,456 shares of the technology company’s stock worth $13,109,000 after acquiring an additional 243,979 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Vonage Holdings Corp. by 10.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,176,570 shares of the technology company’s stock worth $7,436,000 after acquiring an additional 110,837 shares during the period. 79.82% of the stock is currently owned by institutional investors.
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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