Zacks: Brokerages Expect ShoreTel, Inc. (SHOR) to Post $0.02 Earnings Per Share
Equities research analysts expect ShoreTel, Inc. (NASDAQ:SHOR) to report earnings of $0.02 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for ShoreTel’s earnings. ShoreTel reported earnings per share of $0.01 during the same quarter last year, which would suggest a positive year-over-year growth rate of 100%. The company is scheduled to report its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that ShoreTel will report full year earnings of $0.15 per share for the current year. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover ShoreTel.
ShoreTel (NASDAQ:SHOR) last announced its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $95.72 million during the quarter, compared to analyst estimates of $90.69 million. ShoreTel had a negative return on equity of 0.67% and a negative net margin of 3.48%.
Several analysts recently weighed in on SHOR shares. William Blair downgraded shares of ShoreTel from an “outperform” rating to a “market perform” rating in a report on Thursday, July 27th. BidaskClub upgraded shares of ShoreTel from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. ValuEngine downgraded shares of ShoreTel from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Lake Street Capital downgraded shares of ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 target price for the company. in a report on Monday, July 31st. Finally, Northland Securities downgraded shares of ShoreTel from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $10.00 to $7.50 in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.17.
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Several large investors have recently bought and sold shares of SHOR. Teachers Advisors LLC grew its stake in shares of ShoreTel by 59.7% in the fourth quarter. Teachers Advisors LLC now owns 202,971 shares of the communications equipment provider’s stock worth $1,451,000 after acquiring an additional 75,841 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of ShoreTel by 3.3% in the first quarter. Wells Fargo & Company MN now owns 47,472 shares of the communications equipment provider’s stock worth $292,000 after acquiring an additional 1,500 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of ShoreTel in the first quarter worth $174,000. Trexquant Investment LP grew its stake in shares of ShoreTel by 63.4% in the first quarter. Trexquant Investment LP now owns 43,158 shares of the communications equipment provider’s stock worth $265,000 after acquiring an additional 16,745 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of ShoreTel by 40.2% in the first quarter. JPMorgan Chase & Co. now owns 47,873 shares of the communications equipment provider’s stock worth $294,000 after acquiring an additional 13,736 shares in the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.
Shares of ShoreTel (SHOR) opened at 7.50 on Friday. The company has a 50 day moving average price of $7.48 and a 200-day moving average price of $6.45. ShoreTel has a one year low of $5.55 and a one year high of $8.41. The stock’s market cap is $514.92 million.
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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