22 Sep VP Jon Cartu Announces – AudioCodes (NASDAQ:AUDC) Cut to “Hold” at BidaskClub
Other equities research analysts have also issued reports about the company. ValuEngine lowered AudioCodes from a buy rating to a hold rating in a research note on Thursday, August 1st. Needham & Company LLC upped their price target on AudioCodes to $20.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd.
NASDAQ AUDC traded down $0.03 during trading hours on Friday, hitting $20.77. 251,494 shares of the company’s stock were exchanged, compared to its average volume of 163,590. The business’s 50 day moving average is $18.13 and its 200-day moving average is $15.97. AudioCodes has a 12-month low of $9.00 and a 12-month high of $21.66. The firm has a market capitalization of $605.86 million, a P/E ratio of 31.15 and a beta of 0.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.73.
AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, July 23rd. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $49.50 million for the quarter. AudioCodes had a return on equity of 21.61% and a net margin of 8.86%.
The company also recently declared an annual dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from AudioCodes’s previous annual dividend of $0.11. This represents a yield of 0.64%.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in AudioCodes by 23.1% during the second quarter. BlackRock Inc. now owns 9,660 shares of the communications equipment provider’s stock worth $150,000 after acquiring an additional 1,810 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of AudioCodes in the first quarter valued at about $27,000. Qtron Investments LLC grew its stake in shares of AudioCodes by 9.9% in the second quarter. Qtron Investments LLC now owns 22,586 shares of the communications equipment provider’s stock valued at $350,000 after buying an additional 2,028 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AudioCodes by 0.6% in the second quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock valued at $7,468,000 after buying an additional 2,762 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its stake in shares of AudioCodes by 21.5% in the second quarter. Eqis Capital Management Inc. now owns 28,139 shares of the communications equipment provider’s stock valued at $436,000 after buying an additional 4,987 shares in the last quarter. Institutional investors own 30.59% of the company’s stock.
AudioCodes Company Profile
AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, products, and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company’s products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center, customer premises or the branch; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments.
Further Reading: What does an equal weight rating mean?
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