Equities research analysts expect Fusion Telecommunications International, Inc. (NASDAQ:FSNN) to announce $35.50 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Fusion Telecommunications International’s earnings, with the lowest sales estimate coming in at $33.96 million and the highest estimate coming in at $37.03 million. Fusion Telecommunications International posted sales of $29.50 million in the same quarter last year, which suggests a positive year over year growth rate of 20.3%. The company is scheduled to issue its next quarterly earnings report on Tuesday, November 21st.
According to Zacks, analysts expect that Fusion Telecommunications International will report full-year sales of $35.50 million for the current fiscal year, with estimates ranging from $142.83 million to $146.66 million. For the next financial year, analysts anticipate that the business will report sales of $149.06 million per share, with estimates ranging from $142.52 million to $155.60 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Fusion Telecommunications International.
Fusion Telecommunications International (NASDAQ:FSNN) last posted its quarterly earnings results on Monday, August 14th. The Wireless communications provider reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Fusion Telecommunications International had a negative net margin of 10.47% and a negative return on equity of 202.95%. The firm had revenue of $38.09 million during the quarter, compared to the consensus estimate of $32.47 million.
FSNN has been the subject of several research analyst reports. ValuEngine raised shares of Fusion Telecommunications International from a “strong sell” rating to a “sell” rating in a research note on Monday, August 28th. Zacks Investment Research raised shares of Fusion Telecommunications International from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a report on Monday, September 4th. B. Riley reissued a “buy” rating and set a $3.00 price objective on shares of Fusion Telecommunications International in a report on Tuesday. Finally, Craig Hallum reissued a “buy” rating and set a $5.00 price objective (up from $3.00) on shares of Fusion Telecommunications International in a report on Wednesday, August 30th.
In related news, major shareholder Unterberg Capital Llc sold 477,948 shares of Fusion Telecommunications International stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $3.26, for a total transaction of $1,558,110.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Asa Apptix sold 187,914 shares of Fusion Telecommunications International stock in a transaction on Monday, September 18th. The stock was sold at an average price of $3.00, for a total transaction of $563,742.00. Following the completion of the transaction, the insider now directly owns 2,510,012 shares in the company, valued at $7,530,036. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,204,017 shares of company stock worth $8,786,629. 19.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Partners Fund LP purchased a new position in Fusion Telecommunications International in the third quarter worth $135,000. JPMorgan Chase & Co. purchased a new position in Fusion Telecommunications International in the third quarter worth $162,000. B. Riley Financial Inc. purchased a new position in Fusion Telecommunications International in the second quarter worth $145,000. EAM Investors LLC purchased a new position in Fusion Telecommunications International in the third quarter worth $575,000. Finally, Russell Investments Group Ltd. purchased a new position in Fusion Telecommunications International in the third quarter worth $1,041,000. 20.39% of the stock is currently owned by institutional investors and hedge funds.
Fusion Telecommunications International (NASDAQ:FSNN) traded up $0.01 during trading on Friday, hitting $2.43. 48,543 shares of the stock traded hands, compared to its average volume of 213,261. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 21.55. Fusion Telecommunications International has a 1 year low of $1.11 and a 1 year high of $3.57.
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About Fusion Telecommunications International
Fusion Telecommunications International, Inc is a United States-based provider of integrated cloud solutions, including cloud voice, cloud connectivity, cloud infrastructure, cloud computing, and managed cloud-based applications to businesses, and voice over Internet Protocol (VoIP)-based voice services to carriers.
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