According to Zacks, “Polycom is scheduled to be acquired by affiliates of Siris Capital Group LLC in a deal valued at approximately $2 billion. This deal was finalized after Polycom agreed to turn down the acquisition offer from Mitel. Recently the company's shareholders also approved the acquisiton, which is expected to close shortly. Following the closure of the deal, Mary McDowell will be appointed as the CEO, succeeding Peter Leav. The company continues to face increasing competition and has been struggling to ramp up growth and performance. It remains to be seen if the combined entity can see a turnaround and post better opertaing results.”
Several other equities analysts also recently weighed in on the company. BMO Capital Markets restated a neutral rating on shares of Polycom in a report on Friday, July 8th. TheStreet downgraded Polycom from a buy rating to a hold rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of $13.00.
Shares of Polycom (NASDAQ:PLCM) opened at 12.48 on Tuesday. The stock has a market capitalization of $1.69 billion, a P/E ratio of 77.52 and a beta of 1.41. Polycom has a 12-month low of $8.79 and a 12-month high of $14.09. The firm’s 50-day moving average is $12.45 and its 200 day moving average is $11.86.
Polycom (NASDAQ:PLCM) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. Polycom had a return on equity of 5.17% and a net margin of 1.79%. The firm earned $287.80 million during the quarter, compared to the consensus estimate of $294.97 million. During the same period last year, the company earned $0.22 earnings per share. On average, equities research analysts forecast that Polycom will post $0.87 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC increased its stake in Polycom by 1.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 23,413 shares of the company’s stock valued at $263,000 after buying an additional 309 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in Polycom during the second quarter valued at approximately $696,000. Cowen Group Inc. acquired a new stake in Polycom during the second quarter valued at approximately $16,578,000. Wolverine Asset Management LLC acquired a new stake in Polycom during the second quarter valued at approximately $1,007,000. Finally, Public Employees Retirement System of Ohio increased its stake in Polycom by 5.9% in the second quarter. Public Employees Retirement System of Ohio now owns 17,326 shares of the company’s stock valued at $195,000 after buying an additional 969 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.
Polycom Company Profile
Polycom, Inc (Polycom) offers solutions for voice, video and content sharing and a line of support and service solutions. The Company operates in Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC) geographic segments. The Company’s video, voice and content-management and content-sharing solutions include applications for mobile devices, browser-based video collaboration, cloud-delivered services, conference room systems and home/work office solutions and immersive telepresence.
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