Zacks: Brokerages Expect Vonage Holdings Corp. (VG) to Post $0.03 EPS

Brokerages expect Vonage Holdings Corp. (NYSE:VG) to announce earnings of $0.03 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Vonage’s earnings. The highest EPS estimate is $0.05 and the lowest is ($0.02). Vonage reported earnings of $0.07 per share in the same quarter last year, which would suggest a negative year over year growth rate of 57.1%. The firm is expected to issue its next earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Vonage will report full year earnings of $0.23 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.27. For the next fiscal year, analysts forecast that the firm will report earnings of $0.20 per share, with EPS estimates ranging from $0.01 to $0.27. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Vonage.

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

VG has been the topic of several analyst reports. Zacks Investment Research cut Vonage from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. Stephens reiterated a “buy” rating and set a $14.00 price target on shares of Vonage in a research report on Thursday, February 21st. Guggenheim assumed coverage on Vonage in a research report on Monday, March 11th. They set a “neutral” rating and a $10.00 price target on the stock. Finally, Summit Insights reiterated a “hold” rating on shares of Vonage in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $14.80.

Shares of NYSE VG traded up $0.03 during mid-day trading on Friday, hitting $11.58. The company had a trading volume of 1,900,055 shares, compared to its average volume of 2,915,587. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 11.24 and a beta of 0.60. Vonage has a 12 month low of $7.91 and a 12 month high of $14.73. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.12.

In other news, insider Vinod Lala sold 2,867 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.29, for a total value of $29,501.43. Following the completion of the sale, the insider now owns 93,993 shares of the company’s stock, valued at $967,187.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey A. Citron sold 83,334 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $9.68, for a total value of $806,673.12. Following the completion of the sale, the director now directly owns 8,563,086 shares of the company’s stock, valued at approximately $82,890,672.48. The disclosure for this sale can be found here. Insiders sold a total of 1,364,503 shares of company stock worth $13,962,348 over the last 90 days. Insiders own 7.41% of the company’s stock.

Several institutional investors have recently modified their holdings of VG. Bank of New York Mellon Corp boosted its position in Vonage by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 2,912,837 shares of the technology company’s stock valued at $41,245,000 after purchasing an additional 180,404 shares during the last quarter. Morgan Stanley boosted its position in Vonage by 50.8% during the third quarter. Morgan Stanley now owns 866,582 shares of the technology company’s stock valued at $12,272,000 after purchasing an additional 292,049 shares during the last quarter. Virtu Financial LLC acquired a new stake in Vonage during the fourth quarter valued at $135,000. Cowen Prime Services LLC boosted its position in Vonage by 229.1% during the fourth quarter. Cowen Prime Services LLC now owns 1,006,500 shares of the technology company’s stock valued at $8,787,000 after purchasing an additional 700,700 shares during the last quarter. Finally, Strs Ohio boosted its position in Vonage by 65.7% during the fourth quarter. Strs Ohio now owns 334,800 shares of the technology company’s stock valued at $2,922,000 after purchasing an additional 132,700 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

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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