Zacks: Analysts Anticipate AudioCodes Ltd. (AUDC) to Post $0.09 EPS
Wall Street brokerages forecast that AudioCodes Ltd. (NASDAQ:AUDC) will post earnings of $0.09 per share for the current quarter, Zacks reports. Two analysts have made estimates for AudioCodes’ earnings. AudioCodes reported earnings of $0.08 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that AudioCodes will report full-year earnings of $0.35 per share for the current financial year, with EPS estimates ranging from $0.34 to $0.36. For the next year, analysts forecast that the firm will report earnings of $0.41 per share, with EPS estimates ranging from $0.39 to $0.43. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow AudioCodes.
AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08. The business had revenue of $38.70 million during the quarter, compared to analyst estimates of $38.23 million. AudioCodes had a net margin of 11.95% and a return on equity of 7.78%. AudioCodes’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS.
A number of brokerages recently weighed in on AUDC. Northland Securities set a $7.00 price objective on AudioCodes and gave the stock a “hold” rating in a research note on Tuesday, July 4th. TheStreet cut AudioCodes from a “b-” rating to a “c+” rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research upgraded AudioCodes from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Monday, July 31st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $7.50.
Shares of AudioCodes (NASDAQ AUDC) opened at 6.84 on Thursday. The firm’s 50-day moving average is $6.63 and its 200-day moving average is $6.63. The company has a market cap of $216.12 million, a price-to-earnings ratio of 12.71 and a beta of 0.57. AudioCodes has a 52 week low of $5.07 and a 52 week high of $7.26.
Large investors have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC boosted its stake in shares of AudioCodes by 138.5% in the second quarter. Campbell & CO Investment Adviser LLC now owns 26,960 shares of the communications equipment provider’s stock worth $161,000 after buying an additional 15,654 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of AudioCodes by 48.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 28,306 shares of the communications equipment provider’s stock worth $198,000 after buying an additional 9,201 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of AudioCodes during the first quarter worth $202,000. Royal Bank of Canada raised its position in shares of AudioCodes by 3.6% in the second quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock valued at $207,000 after buying an additional 1,200 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of AudioCodes by 113.8% in the first quarter. First Trust Advisors LP now owns 40,963 shares of the communications equipment provider’s stock valued at $287,000 after buying an additional 21,807 shares in the last quarter. Hedge funds and other institutional investors own 22.05% of the company’s stock.
AudioCodes Company Profile
AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.
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