FY2018 EPS Estimates for Vonage Holdings Corp. Lowered by Oppenheimer (VG)
Vonage Holdings Corp. (NYSE:VG) – Stock analysts at Oppenheimer lowered their FY2018 earnings per share (EPS) estimates for shares of Vonage in a research note issued to investors on Thursday, September 20th. Oppenheimer analyst T. Horan now forecasts that the technology company will post earnings per share of $0.39 for the year, down from their previous estimate of $0.40. Oppenheimer also issued estimates for Vonage’s FY2019 earnings at $0.32 EPS.
Vonage (NYSE:VG) last posted its earnings results on Wednesday, August 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. Vonage had a positive return on equity of 16.92% and a negative net margin of 1.14%. The business had revenue of $260.00 million during the quarter, compared to analyst estimates of $254.95 million. During the same quarter last year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year.
VG stock opened at $14.32 on Monday. Vonage has a 1 year low of $7.85 and a 1 year high of $14.73. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $3.25 billion, a PE ratio of 49.71, a P/E/G ratio of 7.35 and a beta of -0.08.
In other news, insider Vinod Lala sold 37,500 shares of Vonage stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $13.55, for a total value of $508,125.00. Following the completion of the transaction, the insider now owns 37,500 shares in the company, valued at approximately $508,125. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP David Levi sold 4,113 shares of Vonage stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $13.68, for a total value of $56,265.84. Following the completion of the transaction, the senior vice president now owns 4,113 shares of the company’s stock, valued at approximately $56,265.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,550,893 shares of company stock valued at $35,409,798. 8.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp grew its position in shares of Vonage by 8.0% in the 2nd quarter. Northern Trust Corp now owns 2,866,872 shares of the technology company’s stock worth $36,955,000 after acquiring an additional 212,850 shares in the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of Vonage in the 2nd quarter worth approximately $2,329,000. Bank of New York Mellon Corp grew its position in shares of Vonage by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,433 shares of the technology company’s stock worth $35,221,000 after acquiring an additional 137,582 shares in the last quarter. Glenmede Trust Co. NA grew its position in shares of Vonage by 238.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 3,950,418 shares of the technology company’s stock worth $50,920,000 after acquiring an additional 2,783,664 shares in the last quarter. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Vonage in the 2nd quarter worth approximately $1,890,000. Institutional investors own 84.92% of the company’s stock.
Vonage Company Profile
Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.
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