Analysts Set $22.00 Target Price for Inteliquent Inc. (NASDAQ:IQNT)
Shares of Inteliquent Inc. (NASDAQ:IQNT) have been given an average broker rating score of 2.75 (Hold) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. Inteliquent’s rating score has declined by 22.2% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 12 month consensus price objective of $22.00 for the company and are forecasting that the company will post $0.29 earnings per share for the current quarter, according to Zacks. Zacks has also given Inteliquent an industry rank of 156 out of 265 based on the ratings given to related companies.
Several analysts have recently weighed in on IQNT shares. Morgan Stanley reiterated a “hold” rating on shares of Inteliquent in a research note on Thursday, June 30th. BWS Financial decreased their price target on shares of Inteliquent from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Inteliquent from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, Raymond James Financial Inc. lowered shares of Inteliquent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 20th.
Shares of Inteliquent (NASDAQ:IQNT) opened at 16.14 on Monday. The firm has a market capitalization of $552.52 million, a price-to-earnings ratio of 15.67 and a beta of 1.20. Inteliquent has a 12 month low of $14.56 and a 12 month high of $22.78. The stock’s 50 day moving average is $16.17 and its 200 day moving average is $17.08.
Inteliquent (NASDAQ:IQNT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.01. The company earned $90.80 million during the quarter, compared to the consensus estimate of $90.28 million. Inteliquent had a net margin of 11.17% and a return on equity of 19.26%. The business’s revenue was up 71.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities research analysts forecast that Inteliquent will post $1.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Wednesday, August 24th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.97%. Inteliquent’s dividend payout ratio (DPR) is presently 62.75%.
In other Inteliquent news, Director Rian J. Wren sold 15,400 shares of Inteliquent stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $20.15, for a total transaction of $310,310.00. Following the transaction, the director now directly owns 80,330 shares of the company’s stock, valued at approximately $1,618,649.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rian J. Wren sold 15,000 shares of Inteliquent stock in a transaction on Monday, August 1st. The stock was sold at an average price of $20.71, for a total transaction of $310,650.00. Following the transaction, the director now directly owns 94,930 shares in the company, valued at $1,966,000.30. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of IQNT. Virginia Retirement System purchased a new position in Inteliquent during the first quarter worth about $982,000. TIAA CREF Investment Management LLC increased its position in Inteliquent by 6.0% in the first quarter. TIAA CREF Investment Management LLC now owns 225,238 shares of the company’s stock worth $3,615,000 after buying an additional 12,740 shares in the last quarter. Teachers Advisors Inc. increased its position in Inteliquent by 2.5% in the first quarter. Teachers Advisors Inc. now owns 869,532 shares of the company’s stock worth $13,956,000 after buying an additional 21,124 shares in the last quarter. Prudential Financial Inc. increased its position in Inteliquent by 34.7% in the first quarter. Prudential Financial Inc. now owns 379,394 shares of the company’s stock worth $6,090,000 after buying an additional 97,799 shares in the last quarter. Finally, Algert Global LLC increased its position in Inteliquent by 13.6% in the first quarter. Algert Global LLC now owns 17,571 shares of the company’s stock worth $282,000 after buying an additional 2,104 shares in the last quarter. 88.98% of the stock is currently owned by hedge funds and other institutional investors.
Inteliquent, Inc is a provider of voice telecommunications services primarily on a wholesale basis. The Company offers its services using an all-Internet Protocol (IP) network, which enables to deliver connectivity for a range of media, including voice, and data and video. The Company’s solutions enable carriers and other providers to deliver voice traffic or other services where they do not have their own network.
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