AudioCodes (AUDC) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

AudioCodes (NASDAQ:AUDC) issued its quarterly earnings results on Tuesday. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05, Morningstar.com reports. AudioCodes had a return on equity of 9.82% and a net margin of 2.57%.

AUDC stock traded up $0.14 during mid-day trading on Tuesday, reaching $6.88. 109,419 shares of the company’s stock were exchanged, compared to its average volume of 61,586. The company has a market capitalization of $194.46, a P/E ratio of 22.61 and a beta of 0.37. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.07. AudioCodes has a 12-month low of $5.83 and a 12-month high of $8.43.

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A number of brokerages have issued reports on AUDC. Zacks Investment Research downgraded AudioCodes from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target (up previously from $8.50) on shares of AudioCodes in a research report on Thursday, January 25th. Finally, William Blair reiterated an “outperform” rating on shares of AudioCodes in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $8.08.

A number of hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its position in AudioCodes by 34.9% during the fourth quarter. Acadian Asset Management LLC now owns 859,182 shares of the communications equipment provider’s stock worth $6,325,000 after purchasing an additional 222,430 shares in the last quarter. Renaissance Technologies LLC boosted its position in AudioCodes by 33.7% during the fourth quarter. Renaissance Technologies LLC now owns 301,700 shares of the communications equipment provider’s stock worth $2,221,000 after purchasing an additional 76,049 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of AudioCodes by 133.8% in the fourth quarter. Two Sigma Investments LP now owns 141,505 shares of the communications equipment provider’s stock valued at $1,041,000 after acquiring an additional 80,986 shares in the last quarter. Millennium Management LLC lifted its position in shares of AudioCodes by 197.0% in the fourth quarter. Millennium Management LLC now owns 139,814 shares of the communications equipment provider’s stock valued at $1,029,000 after acquiring an additional 92,732 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new position in shares of AudioCodes in the fourth quarter valued at approximately $268,000. Institutional investors own 27.61% of the company’s stock.

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AudioCodes Company Profile

AudioCodes Ltd. designs, develops, and sells Voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIPs, and cloud virtualized data centers worldwide. It deploys its products through broadband, mobile, cable, and enterprise networks.

Earnings History for AudioCodes (NASDAQ:AUDC)

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