Vonage Holdings Corp. (NYSE:VG) Expected to Announce Earnings of $0.03 Per Share

Brokerages predict that Vonage Holdings Corp. (NYSE:VG) will report earnings per share (EPS) of $0.03 for the current quarter, according to Zacks. Six analysts have issued estimates for Vonage’s earnings. The lowest EPS estimate is ($0.02) and the highest is $0.05. Vonage posted earnings per share of $0.07 in the same quarter last year, which suggests a negative year-over-year growth rate of 57.1%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Vonage will report full-year earnings of $0.24 per share for the current fiscal year, with EPS estimates ranging from $0.21 to $0.27. For the next year, analysts expect that the company will post earnings of $0.21 per share, with EPS estimates ranging from $0.01 to $0.30. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Vonage.

Vonage (NYSE:VG) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. Vonage had a net margin of 0.99% and a return on equity of 12.11%. The business had revenue of $280.00 million for the quarter, compared to the consensus estimate of $277.82 million. During the same period in the prior year, the company posted $0.13 earnings per share. Vonage’s revenue was up 10.2% compared to the same quarter last year.

Several research firms recently commented on VG. Jefferies Financial Group began coverage on shares of Vonage in a research note on Friday, May 31st. They issued a “buy” rating and a $15.00 price target on the stock. Stephens reiterated a “buy” rating on shares of Vonage in a research note on Monday, April 29th. Summit Insights reiterated a “hold” rating on shares of Vonage in a research note on Thursday, April 4th. Zacks Investment Research upgraded shares of Vonage from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Guggenheim began coverage on shares of Vonage in a research note on Monday, March 11th. They set a “neutral” rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $14.83.

In other news, CFO David T. Pearson sold 9,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $11.70, for a total value of $108,225.00. Following the sale, the chief financial officer now directly owns 320,946 shares in the company, valued at approximately $3,755,068.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $11.34, for a total transaction of $4,536,000.00. Following the completion of the sale, the director now owns 8,702,829 shares in the company, valued at $98,690,080.86. The disclosure for this sale can be found here. Insiders have sold 1,424,042 shares of company stock worth $15,679,886 over the last quarter. Corporate insiders own 7.41% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its stake in shares of Vonage by 19.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 94,576 shares of the technology company’s stock valued at $950,000 after acquiring an additional 15,500 shares in the last quarter. Nordea Investment Management AB grew its position in Vonage by 16.2% in the 1st quarter. Nordea Investment Management AB now owns 238,467 shares of the technology company’s stock valued at $2,394,000 after purchasing an additional 33,300 shares during the period. Formula Growth Ltd. grew its position in Vonage by 71.9% in the 1st quarter. Formula Growth Ltd. now owns 191,220 shares of the technology company’s stock valued at $1,920,000 after purchasing an additional 80,000 shares during the period. 1492 Capital Management LLC grew its position in Vonage by 216.2% in the 1st quarter. 1492 Capital Management LLC now owns 277,304 shares of the technology company’s stock valued at $2,784,000 after purchasing an additional 189,595 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its position in Vonage by 172.9% in the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 46,306 shares of the technology company’s stock valued at $465,000 after purchasing an additional 29,336 shares during the period. Institutional investors own 85.39% of the company’s stock.

VG stock opened at $11.33 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.66 and a quick ratio of 0.66. The company has a 50-day simple moving average of $11.63. Vonage has a 52 week low of $7.91 and a 52 week high of $14.73. The firm has a market capitalization of $2.72 billion, a P/E ratio of 35.41, a PEG ratio of 10.36 and a beta of 0.35.

Vonage Company Profile

Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based Unified Communications as a Service solutions, such as integrated voice, text, video, data, collaboration, contact center, and mobile applications through flexible, scalable Session Initiation protocol based VoIP network; Communications Platform as a Service solutions to developers designed to enhance the businesses communicate with customers by embedding communications into apps, Websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.

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Earnings History and Estimates for Vonage (NYSE:VG)

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