Polycom (PLCM) Issues Q1 Earnings Guidance
Polycom (PLCM) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.10-0.12 for the period, compared to the Thomson Reuters consensus estimate of $0.14.
Polycom (PLCM) traded up 0.25% on Wednesday, hitting $11.64. Polycom (PLCM) has a 1-year low of $7.45 and a 1-year high of $22.34. The stock’s 50-day moving average is currently $10.72. The company has a market cap of $2.042 billion and a price-to-earnings ratio of 36.06.
Polycom last posted its quarterly earnings results on Wednesday, January 23rd. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.02. The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $350.75 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was down 8.6% on a year-over-year basis. Polycom has set its Q1 guidance at $0.10-0.12 EPS. Analysts expect that Polycom (PLCM) will post $0.68 EPS for the current fiscal year.
A number of research firms have also recently commented on PLCM. Analysts at Piper Jaffray reiterated a neutral rating on shares of Polycom in a research note to investors on Monday, January 14th. They now have a $12.00 price target on the stock, up previously from $10.00. On a related note, analysts at Northland Capital upgraded shares of Polycom from a market perform rating to an outperform rating in a research note to investors on Monday, January 7th. They now have a $14.50 price target on the stock. Finally, analysts at Northland Securities upgraded shares of Polycom from a market perform rating to an outperform rating in a research note to investors on Monday, January 7th. They now have a $14.50 price target on the stock.
Two research analysts have rated the stock with a buy rating, and seventeen have given a hold rating to the company’s stock. The stock currently has an average rating of hold and a consensus target price of $11.15.
Polycom, Inc. is a provider of unified communications (UC) solutions and a provider of telepresence, video, voice and infrastructure solutions based on open standards.
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