Zacks: Analysts Anticipate Bandwidth Inc (NASDAQ:BAND) to Announce -$0.17 EPS

Analysts expect that Bandwidth Inc (NASDAQ:BAND) will post earnings per share (EPS) of ($0.17) for the current quarter, according to Zacks. Three analysts have provided estimates for Bandwidth’s earnings, with the highest EPS estimate coming in at ($0.17) and the lowest estimate coming in at ($0.18). Bandwidth reported earnings of $0.20 per share during the same quarter last year, which suggests a negative year over year growth rate of 185%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that Bandwidth will report full-year earnings of ($0.48) per share for the current financial year, with EPS estimates ranging from ($0.49) to ($0.47). For the next financial year, analysts expect that the company will post earnings of ($0.40) per share, with EPS estimates ranging from ($0.51) to ($0.27). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Bandwidth.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. Bandwidth had a negative return on equity of 2.45% and a net margin of 6.71%. The firm had revenue of $53.30 million during the quarter, compared to analyst estimates of $51.35 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue was up .6% compared to the same quarter last year.

Several brokerages have issued reports on BAND. JPMorgan Chase & Co. lifted their price target on from GBX 385 ($5.03) to GBX 480 ($6.27) and gave the stock an “overweight” rating in a research note on Wednesday, July 3rd. Robert W. Baird set a $8.00 price target on SRC Energy and gave the stock a “buy” rating in a research note on Thursday, April 4th. Canaccord Genuity downgraded Summit Industrial Income REIT from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley lifted their price objective on Canadian Pacific Railway from C$272.00 to C$277.00 in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.67.

BAND stock traded down $1.34 during mid-day trading on Friday, hitting $76.77. 107,084 shares of the stock were exchanged, compared to its average volume of 302,158. The firm’s fifty day simple moving average is $75.34. Bandwidth has a 12 month low of $27.75 and a 12 month high of $82.66. The company has a market cap of $1.77 billion, a PE ratio of 247.65 and a beta of 0.77.

In other Bandwidth news, major shareholder Henry R. Kaestner sold 37,741 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $77.46, for a total transaction of $2,923,417.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Murdock sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $73.16, for a total value of $10,974,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 375,394 shares of company stock worth $28,203,587 in the last quarter. Company insiders own 15.27% of the company’s stock.

Several hedge funds have recently bought and sold shares of BAND. BlackRock Inc. boosted its position in shares of Bandwidth by 2.0% in the fourth quarter. BlackRock Inc. now owns 408,447 shares of the company’s stock valued at $16,643,000 after acquiring an additional 7,877 shares during the period. Raymond James & Associates bought a new position in Bandwidth in the fourth quarter worth $385,000. Northern Trust Corp lifted its position in Bandwidth by 24.1% in the fourth quarter. Northern Trust Corp now owns 21,048 shares of the company’s stock worth $858,000 after purchasing an additional 4,092 shares during the period. Brown Advisory Inc. bought a new position in Bandwidth in the fourth quarter worth $460,000. Finally, Geode Capital Management LLC lifted its position in Bandwidth by 24.9% in the fourth quarter. Geode Capital Management LLC now owns 40,896 shares of the company’s stock worth $1,665,000 after purchasing an additional 8,150 shares during the period. Hedge funds and other institutional investors own 55.28% of the company’s stock.

About Bandwidth

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.

See Also: Dividend Achievers

Get a free copy of the Zacks research report on Bandwidth (BAND)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Bandwidth (NASDAQ:BAND)

Receive News & Ratings for Bandwidth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bandwidth and related companies with MarketBeat.com's FREE daily email newsletter.