Brokerages forecast that ShoreTel, Inc. (NASDAQ:SHOR) will post sales of $86.05 million for the current quarter, Zacks reports. Three analysts have provided estimates for ShoreTel’s earnings. The highest sales estimate is $86.96 million and the lowest is $85.20 million. ShoreTel posted sales of $86.27 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.3%. The firm is scheduled to issue its next 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 fiscal year, analysts anticipate that the company will post sales of $0.00 per share. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover ShoreTel.

ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The company had revenue of $95.72 million for the quarter, compared to the consensus estimate of $90.69 million. ShoreTel had a negative net margin of 3.48% and a negative return on equity of 0.67%.

SHOR has been the subject of several research reports. ValuEngine cut shares of ShoreTel from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of ShoreTel from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a report on Wednesday, May 3rd. BidaskClub upgraded shares of ShoreTel from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Northland Securities cut shares of ShoreTel from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $10.00 to $7.50 in a report on Friday, July 28th. Finally, Sidoti cut shares of ShoreTel from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating and six have assigned 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.

Hedge funds have recently bought and sold shares of the stock. Virtu KCG Holdings LLC boosted its stake in ShoreTel by 54.5% in the second quarter. Virtu KCG Holdings LLC now owns 22,827 shares of the communications equipment provider’s stock worth $132,000 after buying an additional 8,048 shares during the period. PEAK6 Investments L.P. boosted its stake in ShoreTel by 92.9% in the first quarter. PEAK6 Investments L.P. now owns 22,686 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 10,927 shares during the period. Princeton Alpha Management LP acquired a new stake in ShoreTel during the first quarter worth about $159,000. Marshall Wace North America L.P. acquired a new stake in ShoreTel during the second quarter worth about $162,000. Finally, Stevens Capital Management LP acquired a new stake in ShoreTel during the first quarter worth about $174,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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ShoreTel (NASDAQ:SHOR) opened at 7.45 on Friday. The firm’s 50-day moving average is $6.60 and its 200-day moving average is $6.36. ShoreTel has a 1-year low of $5.55 and a 1-year high of $8.50. The stock’s market cap is $510.45 million.

About ShoreTel

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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