Zacks: Brokerages Expect ShoreTel, Inc. (SHOR) to Announce -$0.03 Earnings Per Share

Equities analysts expect that ShoreTel, Inc. (NASDAQ:SHOR) will announce earnings per share (EPS) of ($0.03) for the current quarter, Zacks reports. Three analysts have issued estimates for ShoreTel’s earnings, with the lowest EPS estimate coming in at ($0.04) and the highest estimate coming in at ($0.02). ShoreTel reported earnings per share of $0.03 in the same quarter last year, which would suggest a negative year-over-year growth rate of 200%. The business is expected to issue its next earnings report on Thursday, August 3rd.

On average, analysts expect that ShoreTel will report full year earnings of ($0.09) per share for the current fiscal year, with EPS estimates ranging from ($0.10) to ($0.08). For the next year, analysts forecast that the company will post earnings of ($0.13) per share, with EPS estimates ranging from ($0.17) to ($0.05). Zacks’ EPS averages are an average based on a survey of analysts that cover ShoreTel.

ShoreTel (NASDAQ:SHOR) last issued its earnings results on Wednesday, April 26th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06. The company had revenue of $87.70 million during the quarter, compared to analyst estimates of $84.03 million. ShoreTel had a negative net margin of 3.43% and a negative return on equity of 1.15%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS.

SHOR has been the subject of several research analyst reports. Zacks Investment Research cut shares of ShoreTel from a “buy” rating to a “hold” rating in a report on Thursday, March 30th. ValuEngine cut shares of ShoreTel from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. ShoreTel currently has a consensus rating of “Buy” and an average price target of $7.75.

Shares of ShoreTel (NASDAQ SHOR) remained flat at $5.90 during midday trading on Monday. 263,193 shares of the company’s stock traded hands. The firm’s market cap is $402.82 million. ShoreTel has a 52 week low of $5.55 and a 52 week high of $8.56. The firm’s 50 day moving average is $6.16 and its 200-day moving average is $6.58.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHOR. Russell Investments Group Ltd. bought a new position in ShoreTel during the fourth quarter valued at $5,889,000. State Street Corp boosted its position in shares of ShoreTel by 9.4% in the fourth quarter. State Street Corp now owns 1,335,446 shares of the communications equipment provider’s stock valued at $9,548,000 after buying an additional 114,965 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $19,523,000 after buying an additional 410,425 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of ShoreTel during the fourth quarter valued at approximately $274,000. Finally, FMR LLC acquired a new position in shares of ShoreTel during the fourth quarter valued at approximately $307,000. Institutional investors own 87.32% of the company’s stock.

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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