Wall Street analysts predict that Vonage Holdings Corp. (NYSE:VG) will post sales of $274.41 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Vonage’s earnings, with the lowest sales estimate coming in at $273.37 million and the highest estimate coming in at $275.54 million. Vonage reported sales of $254.02 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8%. The firm is scheduled to report its next earnings results on Wednesday, February 20th.
According to Zacks, analysts expect that Vonage will report full-year sales of $1.05 billion for the current financial year. For the next year, analysts expect that the firm will post sales of $1.16 billion, with estimates ranging from $1.11 billion to $1.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Vonage.
Vonage (NYSE:VG) last released its quarterly earnings data on Friday, November 2nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The company had revenue of $261.53 million during the quarter, compared to the consensus estimate of $263.91 million. Vonage had a positive return on equity of 17.66% and a negative net margin of 1.22%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share.
NYSE:VG traded down $0.15 on Tuesday, reaching $10.10. 1,451,799 shares of the stock traded hands, compared to its average volume of 2,026,329. The company has a market capitalization of $2.42 billion, a PE ratio of 36.07, a P/E/G ratio of 5.86 and a beta of -0.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.75. Vonage has a 1-year low of $9.65 and a 1-year high of $14.73.
In other Vonage news, Director Jeffrey A. Citron sold 500,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $14.33, for a total transaction of $7,165,000.00. Following the completion of the sale, the director now owns 10,650,784 shares of the company’s stock, valued at approximately $152,625,734.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey A. Citron sold 233,332 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $10.69, for a total value of $2,494,319.08. Following the transaction, the director now owns 8,553,862 shares in the company, valued at $91,440,784.78. The disclosure for this sale can be found here. Insiders have sold a total of 2,411,995 shares of company stock valued at $31,232,935 in the last three months. Insiders own 8.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of VG. BlackRock Inc. boosted its holdings in shares of Vonage by 13.3% during the 2nd quarter. BlackRock Inc. now owns 30,970,520 shares of the technology company’s stock worth $399,210,000 after buying an additional 3,641,447 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Vonage by 238.6% during the 2nd quarter. Glenmede Trust Co. NA now owns 3,950,418 shares of the technology company’s stock worth $50,920,000 after buying an additional 2,783,664 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Vonage by 2,793.8% during the 3rd quarter. Marshall Wace LLP now owns 1,308,598 shares of the technology company’s stock worth $18,530,000 after buying an additional 1,263,378 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Vonage by 12.2% during the 2nd quarter. First Trust Advisors LP now owns 8,924,929 shares of the technology company’s stock worth $115,042,000 after buying an additional 972,857 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Vonage by 147.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,153,600 shares of the technology company’s stock worth $14,870,000 after buying an additional 687,600 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.
Vonage Company Profile
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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