Zacks: Brokerages Expect Vonage Holdings Corp. (VG) to Post $0.09 Earnings Per Share

Brokerages expect that Vonage Holdings Corp. (NYSE:VG) will report $0.09 earnings per share for the current quarter, Zacks reports. Five analysts have provided estimates for Vonage’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.12. Vonage reported earnings per share of $0.03 during the same quarter last year, which would indicate a positive year-over-year growth rate of 200%. The firm is expected to issue its next quarterly earnings results on Tuesday, February 13th.

On average, analysts expect that Vonage will report full-year earnings of $0.28 per share for the current year, with EPS estimates ranging from $0.27 to $0.31. For the next fiscal year, analysts forecast that the company will report earnings of $0.34 per share, with EPS estimates ranging from $0.24 to $0.41. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Vonage.

Vonage (NYSE:VG) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $253.10 million during the quarter, compared to analysts’ expectations of $249.02 million. Vonage had a return on equity of 11.47% and a net margin of 2.14%. Vonage’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share.

Several brokerages recently commented on VG. Needham & Company LLC raised their target price on Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird reaffirmed a “buy” rating on shares of Vonage in a research report on Friday, November 17th. Zacks Investment Research cut Vonage from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Oppenheimer raised their target price on Vonage from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $11.00 target price on shares of Vonage in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Vonage currently has a consensus rating of “Buy” and a consensus target price of $9.94.

In other news, Director Jeffrey A. Citron sold 138,303 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $8.90, for a total value of $1,230,896.70. Following the completion of the sale, the director now directly owns 11,676,047 shares in the company, valued at $103,916,818.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $8.12, for a total value of $3,369,093.56. Following the completion of the sale, the director now owns 12,676,047 shares of the company’s stock, valued at $102,929,501.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,539,123 shares of company stock valued at $12,962,492. Company insiders own 14.05% of the company’s stock.

Large investors have recently made changes to their positions in the company. World Asset Management Inc acquired a new stake in shares of Vonage in the third quarter valued at $112,000. Bayesian Capital Management LP acquired a new stake in shares of Vonage in the second quarter valued at $118,000. Aperio Group LLC increased its stake in shares of Vonage by 2.2% in the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock valued at $133,000 after buying an additional 433 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Vonage in the third quarter valued at $148,000. Finally, SG Americas Securities LLC increased its stake in shares of Vonage by 108.4% in the second quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock valued at $160,000 after buying an additional 12,701 shares in the last quarter. Institutional investors own 84.01% of the company’s stock.

Shares of Vonage (NYSE:VG) traded down $0.01 during mid-day trading on Monday, reaching $9.92. The company had a trading volume of 1,028,900 shares, compared to its average volume of 2,534,289. The company has a market capitalization of $2,260.00, a PE ratio of 45.09, a P/E/G ratio of 7.04 and a beta of -0.04. Vonage has a 52-week low of $5.74 and a 52-week high of $10.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64.

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Vonage Company Profile

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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Earnings History and Estimates for Vonage (NYSE:VG)

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