Analysts Expect AudioCodes Ltd. (AUDC) Will Post Quarterly Sales of $39.45 Million
Equities analysts expect that AudioCodes Ltd. (NASDAQ:AUDC) will report $39.45 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for AudioCodes’ earnings, with estimates ranging from $39.20 million to $39.70 million. AudioCodes reported sales of $37.19 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.1%. The business is scheduled to announce its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that AudioCodes will report full-year sales of $39.45 million for the current fiscal year, with estimates ranging from $155.60 million to $156.50 million. For the next financial year, analysts anticipate that the firm will report sales of $165.35 million per share, with estimates ranging from $162.50 million to $168.20 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover AudioCodes.
AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $38.70 million for the quarter, compared to the consensus estimate of $38.23 million. AudioCodes had a return on equity of 7.78% and a net margin of 11.95%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS.
Several analysts have issued reports on AUDC shares. Zacks Investment Research upgraded AudioCodes from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a research note on Monday, July 31st. TheStreet cut AudioCodes from a “b-” rating to a “c+” rating in a research note on Wednesday, June 28th. Finally, Northland Securities set a $7.00 price objective on AudioCodes and gave the company a “hold” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. AudioCodes presently has a consensus rating of “Buy” and an average target price of $7.50.
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Shares of AudioCodes (NASDAQ AUDC) traded up 1.73% on Wednesday, hitting $7.06. The company’s stock had a trading volume of 50,086 shares. The firm has a market cap of $224.40 million, a PE ratio of 15.69 and a beta of 0.61. AudioCodes has a 1-year low of $5.07 and a 1-year high of $7.26. The company has a 50 day moving average of $6.77 and a 200 day moving average of $6.61.
Several large investors have recently bought and sold shares of AUDC. Russell Investments Group Ltd. bought a new position in shares of AudioCodes during the first quarter valued at approximately $202,000. First Trust Advisors LP grew its holdings in shares of AudioCodes by 113.8% during the first quarter. First Trust Advisors LP now owns 40,963 shares of the communications equipment provider’s stock valued at $287,000 after purchasing an additional 21,807 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in shares of AudioCodes by 34.0% during the first quarter. State of Tennessee Treasury Department now owns 116,102 shares of the communications equipment provider’s stock valued at $814,000 after purchasing an additional 29,482 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of AudioCodes by 48.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 28,306 shares of the communications equipment provider’s stock valued at $198,000 after purchasing an additional 9,201 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of AudioCodes by 13.6% during the first quarter. Morgan Stanley now owns 1,505,906 shares of the communications equipment provider’s stock valued at $10,556,000 after purchasing an additional 180,860 shares during the last quarter. 22.01% of the stock is owned by institutional investors.
AudioCodes Company Profile
AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.
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