Nuance Communications, Inc. (NUAN) Expected to Post Quarterly Sales of $455.68 Million
Wall Street analysts predict that Nuance Communications, Inc. (NASDAQ:NUAN) will report $455.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Nuance Communications’ earnings, with the highest sales estimate coming in at $457.50 million and the lowest estimate coming in at $454.54 million. Nuance Communications reported sales of $512.45 million in the same quarter last year, which indicates a negative year-over-year growth rate of 11.1%. The business is expected to report its next quarterly earnings report on Thursday, November 16th.
According to Zacks, analysts expect that Nuance Communications will report full-year sales of $455.68 million for the current fiscal year. For the next year, analysts forecast that the company will report sales of $2.01 billion per share, with estimates ranging from $2.00 billion to $2.02 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Nuance Communications.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.09). Nuance Communications had a positive return on equity of 14.73% and a negative net margin of 3.38%. The company had revenue of $495.60 million during the quarter, compared to analyst estimates of $495.57 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Thursday. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $23.00 price objective (down from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. Raymond James Financial, Inc. cut their price objective on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 price target (down from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.38.
Nuance Communications (NASDAQ NUAN) opened at 15.86 on Friday. Nuance Communications has a one year low of $13.44 and a one year high of $19.93. The stock’s 50 day moving average price is $15.90 and its 200-day moving average price is $17.21. The stock’s market cap is $4.58 billion.
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In related news, EVP Kenneth M. Siegel sold 4,682 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $16.00, for a total value of $74,912.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel David Tempesta sold 6,500 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.99, for a total transaction of $103,935.00. Following the completion of the transaction, the insider now owns 270,677 shares in the company, valued at approximately $4,328,125.23. The disclosure for this sale can be found here. In the last three months, insiders sold 25,182 shares of company stock worth $410,317. 1.67% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in Nuance Communications by 0.7% in the first quarter. Comerica Bank now owns 12,581 shares of the software maker’s stock valued at $224,000 after buying an additional 90 shares during the period. Moors & Cabot Inc. raised its holdings in shares of Nuance Communications by 1.3% during the second quarter. Moors & Cabot Inc. now owns 11,215 shares of the software maker’s stock valued at $193,000 after purchasing an additional 140 shares during the period. Ledyard National Bank raised its holdings in shares of Nuance Communications by 4.8% during the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock valued at $125,000 after purchasing an additional 330 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Nuance Communications by 1.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 30,900 shares of the software maker’s stock valued at $535,000 after purchasing an additional 400 shares during the period. Finally, Sicart Associates LLC raised its holdings in shares of Nuance Communications by 0.5% during the second quarter. Sicart Associates LLC now owns 86,925 shares of the software maker’s stock valued at $1,513,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.
About Nuance Communications
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.
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