Vonage Holdings Corp. (VG) Expected to Post Quarterly Sales of $254.42 Million
Analysts expect Vonage Holdings Corp. (NYSE:VG) to report sales of $254.42 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Vonage’s earnings. The highest sales estimate is $257.70 million and the lowest is $253.04 million. Vonage reported sales of $246.76 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The company is scheduled to issue its next quarterly earnings results on Tuesday, February 13th.
On average, analysts expect that Vonage will report full year sales of $254.42 million for the current year, with estimates ranging from $1.00 billion to $1.01 billion. For the next fiscal year, analysts expect that the company will report sales of $1.03 billion per share, with estimates ranging from $1.02 billion to $1.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Vonage.
Vonage (NYSE:VG) last released its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. The firm had revenue of $253.10 million during the quarter, compared to the consensus estimate of $249.02 million. Vonage had a net margin of 2.14% and a return on equity of 11.47%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 EPS.
In other Vonage news, Director Jeffrey A. Citron sold 514,913 shares of Vonage stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $10.37, for a total value of $5,339,647.81. Following the completion of the transaction, the director now directly owns 10,680,286 shares of the company’s stock, valued at $110,754,565.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Citron sold 414,913 shares of Vonage stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $8.12, for a total transaction of $3,369,093.56. Following the completion of the transaction, the director now directly owns 12,676,047 shares of the company’s stock, valued at $102,929,501.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,292,342 shares of company stock valued at $21,885,764. 14.05% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of VG. World Asset Management Inc bought a new stake in Vonage during the third quarter valued at approximately $112,000. Bayesian Capital Management LP purchased a new position in shares of Vonage during the 2nd quarter worth $118,000. CIBC Asset Management Inc purchased a new position in shares of Vonage during the 3rd quarter worth $148,000. Crossmark Global Holdings Inc. purchased a new position in shares of Vonage during the 3rd quarter worth $177,000. Finally, SG Americas Securities LLC raised its holdings in shares of Vonage by 108.4% during the 2nd quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock worth $160,000 after acquiring an additional 12,701 shares during the period. 83.99% of the stock is owned by institutional investors and hedge funds.
Vonage (VG) traded up $0.35 during mid-day trading on Tuesday, hitting $10.96. 2,540,700 shares of the company traded hands, compared to its average volume of 1,783,533. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64. Vonage has a 52 week low of $5.74 and a 52 week high of $11.00. The company has a market cap of $2,506.24, a price-to-earnings ratio of 137.02, a P/E/G ratio of 6.45 and a beta of -0.05.
TRADEMARK VIOLATION NOTICE: This story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/01/16/vonage-holdings-corp-vg-expected-to-post-quarterly-sales-of-254-42-million.html.
Vonage 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Vonage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage and related companies with MarketBeat.com's FREE daily email newsletter.