AudioCodes Ltd. (NASDAQ:AUDC) – Equities researchers at William Blair dropped their Q2 2018 earnings estimates for AudioCodes in a note issued to investors on Wednesday, according to Zacks Investment Research. William Blair analyst D. Netis now anticipates that the communications equipment provider will post earnings per share of $0.06 for the quarter, down from their prior estimate of $0.07. William Blair has a “Buy” rating on the stock. William Blair also issued estimates for AudioCodes’ Q3 2018 earnings at $0.07 EPS and Q4 2018 earnings at $0.09 EPS.
AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. AudioCodes had a return on equity of 8.33% and a net margin of 11.84%. The firm had revenue of $39.20 million for the quarter, compared to analysts’ expectations of $39.20 million. During the same period last year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis.
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Other equities research analysts have also recently issued reports about the company. Needham & Company LLC raised their target price on AudioCodes from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research cut AudioCodes from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, TheStreet upgraded AudioCodes from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. AudioCodes presently has a consensus rating of “Buy” and an average price target of $7.67.
Shares of AudioCodes (NASDAQ:AUDC) traded down $0.06 on Friday, reaching $6.88. The company had a trading volume of 74,300 shares, compared to its average volume of 262,112. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.69 and a quick ratio of 1.32. The company has a market capitalization of $218.67, a PE ratio of 24.57 and a beta of 0.25. AudioCodes has a 52-week low of $5.30 and a 52-week high of $8.43.
A number of hedge funds have recently bought and sold shares of AUDC. Morgan Stanley lifted its stake in AudioCodes by 13.6% in the first quarter. Morgan Stanley now owns 1,505,906 shares of the communications equipment provider’s stock valued at $10,556,000 after buying an additional 180,860 shares during the last quarter. Macquarie Group Ltd. bought a new stake in AudioCodes in the third quarter valued at $713,000. Acadian Asset Management LLC lifted its stake in AudioCodes by 8.9% in the second quarter. Acadian Asset Management LLC now owns 694,228 shares of the communications equipment provider’s stock valued at $4,157,000 after buying an additional 56,674 shares during the last quarter. First Trust Advisors LP lifted its stake in AudioCodes by 112.6% in the third quarter. First Trust Advisors LP now owns 105,385 shares of the communications equipment provider’s stock valued at $752,000 after buying an additional 55,820 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in AudioCodes in the first quarter valued at $202,000. Institutional investors own 21.97% of the company’s stock.
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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