AudioCodes Ltd. (NASDAQ:AUDC) – Stock analysts at William Blair lifted their FY2017 earnings estimates for AudioCodes in a research report issued to clients and investors on Wednesday. William Blair analyst D. Netis now anticipates that the communications equipment provider will earn $0.28 per share for the year, up from their prior estimate of $0.27. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for AudioCodes’ FY2018 earnings at $0.28 EPS.
AudioCodes (NASDAQ:AUDC) last posted its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. The business had revenue of $39.20 million for the quarter, compared to analysts’ expectations of $39.20 million. AudioCodes had a net margin of 11.84% and a return on equity of 8.33%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. COPYRIGHT VIOLATION WARNING: This article was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://transcriptdaily.com/2017/10/30/william-blair-equities-analysts-boost-earnings-estimates-for-audiocodes-ltd-audc.html.
Several other research firms have also commented on AUDC. Needham & Company LLC raised their target price on shares of AudioCodes from $8.00 to $8.50 and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research lowered shares of AudioCodes from a “buy” rating to a “hold” rating in a report on Monday, September 25th. TheStreet raised shares of AudioCodes from a “c+” rating to a “b-” rating in a report on Thursday, September 7th. Finally, Northland Securities set a $7.00 target price on shares of AudioCodes and gave the company a “hold” rating in a report on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $7.67.
Shares of AudioCodes (NASDAQ:AUDC) opened at 7.62 on Monday. AudioCodes has a 1-year low of $5.16 and a 1-year high of $8.43. The company has a 50-day moving average of $7.35 and a 200-day moving average of $6.75. The company has a market cap of $240.76 million, a PE ratio of 14.16 and a beta of 0.37.
Several institutional investors have recently made changes to their positions in AUDC. Russell Investments Group Ltd. bought a new stake in shares of AudioCodes during the 1st quarter valued at approximately $202,000. First Trust Advisors LP grew its holdings in shares of AudioCodes by 113.8% during the 1st 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. Morgan Stanley grew its holdings in shares of AudioCodes by 13.6% during the 1st 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. Acadian Asset Management LLC grew its holdings in shares of AudioCodes by 8.9% during the 2nd quarter. Acadian Asset Management LLC now owns 694,228 shares of the communications equipment provider’s stock valued at $4,157,000 after purchasing an additional 56,674 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its holdings in shares of AudioCodes by 138.5% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 26,960 shares of the communications equipment provider’s stock valued at $161,000 after purchasing an additional 15,654 shares during the last quarter. 22.00% of the stock is currently 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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