Polycom Inc (NASDAQ:PLCM) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the firm. One equities research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.00.
Several research analysts have commented on PLCM shares. TheStreet downgraded Polycom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. BMO Capital Markets reissued a “neutral” rating on shares of Polycom in a research note on Friday, July 8th. Finally, Zacks Investment Research downgraded Polycom from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th.
Polycom (NASDAQ:PLCM) opened at 12.47 on Wednesday. The stock has a 50 day moving average of $12.46 and a 200 day moving average of $11.96. Polycom has a 52 week low of $8.79 and a 52 week high of $14.09.
Polycom (NASDAQ:PLCM) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The business earned $287.80 million during the quarter, compared to the consensus estimate of $294.97 million. Polycom had a return on equity of 5.17% and a net margin of 1.79%. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Analysts predict that Polycom will post $0.85 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Kassirer Asset Management Corp purchased a new stake in Polycom during the second quarter valued at $113,000. Cowen Prime Services LLC purchased a new stake in Polycom during the second quarter valued at $120,000. Oakbrook Investments LLC boosted its stake in Polycom by 11.0% in the second quarter. Oakbrook Investments LLC now owns 11,100 shares of the company’s stock valued at $125,000 after buying an additional 1,100 shares during the period. Royal Bank of Canada boosted its stake in Polycom by 308.0% in the first quarter. Royal Bank of Canada now owns 11,366 shares of the company’s stock valued at $127,000 after buying an additional 8,580 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Polycom by 1.5% in the second quarter. Hsbc Holdings PLC now owns 11,926 shares of the company’s stock valued at $134,000 after buying an additional 174 shares during the period. 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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