Vonage Holdings Corp. (VG) to Post Q4 2017 Earnings of $0.09 Per Share, Oppenheimer Holdings Forecasts
Vonage Holdings Corp. (NYSE:VG) – Equities researchers at Oppenheimer Holdings increased their Q4 2017 earnings per share (EPS) estimates for Vonage Holdings Corp. in a research report issued on Thursday. Oppenheimer Holdings analyst T. Horan now expects that the technology company will post earnings per share of $0.09 for the quarter, up from their prior forecast of $0.08. Oppenheimer Holdings also issued estimates for Vonage Holdings Corp.’s FY2018 earnings at $0.31 EPS.
Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $252 million for the quarter, compared to analysts’ expectations of $242.05 million. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share.
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A number of other research firms have also commented on VG. Dougherty & Co reduced their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research report on Friday. Zacks Investment Research raised Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, May 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $8.31.
Vonage Holdings Corp. (VG) opened at 7.66 on Monday. Vonage Holdings Corp. has a 12-month low of $5.43 and a 12-month high of $7.88. The company has a market cap of $1.70 billion, a PE ratio of 125.57 and a beta of -0.01. The company has a 50-day moving average price of $6.63 and a 200 day moving average price of $6.59.
Several large investors have recently modified their holdings of VG. MARSHALL WACE ASIA Ltd purchased a new stake in Vonage Holdings Corp. during the first quarter worth $1,192,000. Suntrust Banks Inc. boosted its position in shares of Vonage Holdings Corp. by 2.4% in the first quarter. Suntrust Banks Inc. now owns 31,164 shares of the technology company’s stock worth $196,000 after buying an additional 718 shares during the period. Norges Bank bought a new position in shares of Vonage Holdings Corp. during the fourth quarter worth about $19,387,000. BlackRock Inc. boosted its position in shares of Vonage Holdings Corp. by 36,952.8% in the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after buying an additional 15,711,217 shares during the period. Finally, Strs Ohio boosted its position in shares of Vonage Holdings Corp. by 1.3% in the first quarter. Strs Ohio now owns 145,000 shares of the technology company’s stock worth $916,000 after buying an additional 1,800 shares during the period. Institutional investors own 76.82% of the company’s stock.
In related news, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $6.77, for a total value of $2,808,961.01. Following the sale, the director now owns 12,664,157 shares in the company, valued at $85,736,342.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David T. Pearson sold 666,667 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $7.02, for a total value of $4,680,002.34. Following the completion of the sale, the chief financial officer now owns 948,241 shares in the company, valued at approximately $6,656,651.82. The disclosure for this sale can be found here. Insiders sold 4,069,375 shares of company stock valued at $28,295,719 over the last ninety days. Corporate insiders own 14.05% of the company’s stock.
About Vonage Holdings Corp.
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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