Wall Street analysts predict that ShoreTel, Inc. (NASDAQ:SHOR) will post earnings per share of ($0.05) for the current quarter, Zacks reports. Three analysts have provided estimates for ShoreTel’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at ($0.03). ShoreTel reported earnings per share of ($0.04) during the same quarter last year, which suggests a negative year-over-year growth rate of 25%. The firm is expected to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that ShoreTel will report full year earnings of ($0.13) per share for the current fiscal year, with EPS estimates ranging from ($0.17) to ($0.05). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow ShoreTel.
ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $95.72 million during the quarter, compared to analyst estimates of $90.69 million. ShoreTel had a negative return on equity of 0.67% and a negative net margin of 3.48%.
Several equities research analysts have commented on SHOR shares. Zacks Investment Research upgraded ShoreTel from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Tuesday, July 18th. Northland Securities restated a “buy” rating and issued a $10.00 price target on shares of ShoreTel in a research report on Tuesday, July 4th. Lake Street Capital lowered ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 price target for the company. in a research report on Monday. William Blair lowered ShoreTel from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 27th. Finally, Sidoti lowered ShoreTel from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.17.
Large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in ShoreTel by 9.4% in the fourth quarter. State Street Corp now owns 1,335,446 shares of the communications equipment provider’s stock worth $9,548,000 after buying an additional 114,965 shares during the period. Dimensional Fund Advisors LP raised its stake in ShoreTel by 17.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,730,513 shares of the communications equipment provider’s stock worth $19,523,000 after buying an additional 410,425 shares during the period. FMR LLC bought a new stake in ShoreTel during the fourth quarter worth about $307,000. Teachers Advisors LLC raised its stake in ShoreTel by 59.7% in the fourth quarter. Teachers Advisors LLC now owns 202,971 shares of the communications equipment provider’s stock worth $1,451,000 after buying an additional 75,841 shares during the period. Finally, Paragon Capital Management Ltd bought a new stake in ShoreTel during the first quarter worth about $278,000. Institutional investors and hedge funds own 86.68% of the company’s stock.
ShoreTel (NASDAQ SHOR) remained flat at $7.50 during midday trading on Friday. 1,619,713 shares of the company traded hands. The firm’s 50-day moving average price is $6.03 and its 200-day moving average price is $6.31. ShoreTel has a 1-year low of $5.55 and a 1-year high of $8.56. The firm’s market capitalization is $513.88 million.
About ShoreTel
ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.
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