Oppenheimer Holdings Equities Analysts Cut Earnings Estimates for Nuance Communications, Inc. (NUAN)
Nuance Communications, Inc. (NASDAQ:NUAN) – Stock analysts at Oppenheimer Holdings reduced their FY2017 earnings estimates for Nuance Communications in a research report issued on Wednesday. Oppenheimer Holdings analyst S. Eyal now forecasts that the software maker will post earnings per share of $0.59 for the year, down from their previous forecast of $0.73. Oppenheimer Holdings has a “Outperform” rating and a $23.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Nuance Communications’ Q2 2018 earnings at $0.18 EPS and Q3 2018 earnings at $0.17 EPS.
Other research analysts also recently issued reports about the company. Raymond James Financial, Inc. dropped their price target on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Canaccord Genuity lowered their price objective on Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday. BidaskClub cut Nuance Communications from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Morgan Stanley restated an “equal weight” rating and set a $18.00 price objective (down from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th. Finally, Zacks Investment Research cut Nuance Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Nuance Communications presently has an average rating of “Hold” and an average price target of $20.11.
Nuance Communications (NASDAQ:NUAN) traded up 0.92% during mid-day trading on Friday, hitting $16.51. 299,429 shares of the stock were exchanged. The company has a 50-day moving average price of $17.41 and a 200-day moving average price of $17.43. The company’s market cap is $4.75 billion. Nuance Communications has a one year low of $13.44 and a one year high of $19.93.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.09. Nuance Communications had a positive return on equity of 14.76% and a negative net margin of 3.38%. The company had revenue of $495.60 million for the quarter, compared to analyst estimates of $495.57 million. During the same period in the previous year, the business posted $0.38 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year.
In other Nuance Communications news, Director Katherine A. Martin sold 10,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $18.34, for a total value of $183,400.00. Following the sale, the director now directly owns 87,880 shares in the company, valued at $1,611,719.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Ricci sold 139,267 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total value of $2,659,999.70. Following the completion of the sale, the chief executive officer now owns 2,090,036 shares in the company, valued at $39,919,687.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,267 shares of company stock worth $3,518,245. 1.67% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in shares of Nuance Communications by 14.4% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 238,600 shares of the software maker’s stock worth $4,130,000 after buying an additional 29,975 shares during the period. Wesbanco Bank Inc. bought a new stake in shares of Nuance Communications during the first quarter worth $756,000. IFP Advisors Inc boosted its stake in shares of Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock worth $143,000 after buying an additional 400 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of Nuance Communications during the first quarter worth $17,310,000. Finally, New Jersey Better Educational Savings Trust bought a new stake in shares of Nuance Communications during the first quarter worth $485,000. Hedge funds and other institutional investors own 84.01% of the company’s stock.
Nuance Communications Company Profile
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
Receive News & Ratings for Nuance Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.