FY2017 Earnings Forecast for Vonage Holdings Corp. Issued By William Blair (VG)
Vonage Holdings Corp. (NYSE:VG) – Stock analysts at William Blair increased their FY2017 earnings per share estimates for shares of Vonage Holdings Corp. in a research note issued on Wednesday. William Blair analyst D. Netis now forecasts that the technology company will earn $0.27 per share for the year, up from their previous estimate of $0.25. William Blair also issued estimates for Vonage Holdings Corp.’s Q4 2017 earnings at $0.07 EPS, Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.09 EPS and FY2018 earnings at $0.32 EPS.
Vonage Holdings Corp. (NYSE:VG) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. The company had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. Vonage Holdings Corp. had a return on equity of 11.47% and a net margin of 2.14%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS.
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Several other equities analysts have also recently weighed in on the company. Northland Securities reiterated a “buy” rating and set a $9.50 price objective on shares of Vonage Holdings Corp. in a report on Tuesday, September 5th. Robert W. Baird reiterated a “buy” rating and set a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday, September 1st. Citigroup Inc. reiterated a “buy” rating and set a $9.75 price objective on shares of Vonage Holdings Corp. in a report on Wednesday, September 13th. Dougherty & Co cut their price objective on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.71.
Vonage Holdings Corp. (VG) opened at $8.85 on Thursday. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $9.04. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2,020.00, a PE ratio of 40.09, a PEG ratio of 6.17 and a beta of -0.14.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Vonage Holdings Corp. by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock valued at $131,960,000 after acquiring an additional 437,370 shares in the last quarter. BlackRock Inc. lifted its stake in Vonage Holdings Corp. by 36,952.8% in the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock valued at $99,564,000 after acquiring an additional 15,711,217 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Vonage Holdings Corp. by 0.3% in the 2nd quarter. Alliancebernstein L.P. now owns 9,899,093 shares of the technology company’s stock valued at $64,740,000 after acquiring an additional 32,532 shares in the last quarter. Cramer Rosenthal Mcglynn LLC lifted its stake in Vonage Holdings Corp. by 6.0% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 7,596,028 shares of the technology company’s stock valued at $49,678,000 after acquiring an additional 427,218 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Vonage Holdings Corp. by 12.2% in the 2nd quarter. First Trust Advisors LP now owns 7,180,454 shares of the technology company’s stock valued at $46,960,000 after acquiring an additional 780,436 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.
In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $7.99, for a total value of $3,315,154.87. Following the sale, the director now owns 12,670,751 shares in the company, valued at approximately $101,239,300.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Citron sold 138,303 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total value of $1,127,169.45. Following the completion of the sale, the director now owns 12,676,047 shares in the company, valued at approximately $103,309,783.05. The disclosure for this sale can be found here. Insiders sold a total of 1,581,392 shares of company stock worth $12,777,047 in the last 90 days. Company insiders own 14.05% of the company’s stock.
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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