Zacks: Brokerages Anticipate Vonage Holdings (VG) to Announce $0.07 EPS

Brokerages expect Vonage Holdings (NYSE:VG) to post earnings per share of $0.07 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Vonage’s earnings. The highest EPS estimate is $0.09 and the lowest is $0.05. Vonage posted earnings per share of $0.06 during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The company is scheduled to report its next earnings report on Tuesday, May 8th.

On average, analysts expect that Vonage will report full-year earnings of $0.36 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.43. For the next fiscal year, analysts anticipate that the business will report earnings of $0.40 per share, with EPS estimates ranging from $0.31 to $0.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Vonage.

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Vonage (NYSE:VG) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). Vonage had a positive return on equity of 14.13% and a negative net margin of 3.39%. The business had revenue of $254.00 million during the quarter, compared to the consensus estimate of $254.19 million. During the same period in the previous year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year.

Several brokerages have recently weighed in on VG. Needham & Company LLC upped their price objective on Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, December 11th. Robert W. Baird restated a “buy” rating and issued a $11.00 price objective on shares of Vonage in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Vonage from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Saturday, January 6th. Summit Redstone restated a “hold” rating on shares of Vonage in a report on Friday, February 9th. Finally, ValuEngine upgraded Vonage from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $10.41.

NYSE:VG opened at $10.56 on Monday. Vonage has a 1 year low of $6.09 and a 1 year high of $11.65. The firm has a market capitalization of $2,414.77, a PE ratio of 37.71, a price-to-earnings-growth ratio of 5.80 and a beta of 0.04. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 0.45.

In other news, Director Jeffrey A. Citron sold 238,303 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $10.07, for a total transaction of $2,399,711.21. Following the completion of the sale, the director now directly owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 514,913 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $10.37, for a total value of $5,339,647.81. Following the sale, the director now directly owns 10,680,286 shares of the company’s stock, valued at $110,754,565.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 100,000 shares of company stock valued at $21,330 and have sold 2,228,591 shares valued at $23,400,007. Corporate insiders own 14.05% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Vonage by 87.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after acquiring an additional 4,569 shares in the last quarter. LS Investment Advisors LLC lifted its stake in Vonage by 83.5% in the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock worth $127,000 after acquiring an additional 5,683 shares in the last quarter. Bank of Montreal Can lifted its stake in Vonage by 103.4% in the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after acquiring an additional 6,581 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in Vonage in the 4th quarter worth about $142,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Vonage in the 4th quarter worth about $146,000. 86.28% of the stock is owned by institutional investors and hedge funds.

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About Vonage

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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Earnings History and Estimates for Vonage (NYSE:VG)

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