Zacks: Analysts Anticipate Nuance Communications Inc. (NUAN) Will Post Quarterly Sales of $524.95 Million

Analysts expect Nuance Communications Inc. (NASDAQ:NUAN) to post $524.95 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Nuance Communications’ earnings. The lowest sales estimate is $523.90 million and the highest is $526.00 million. Nuance Communications posted sales of $474.65 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.6%. The business is expected to announce its next earnings report on Tuesday, November 27th.

On average, analysts expect that Nuance Communications will report full year sales of $2.06 billion for the current year. For the next fiscal year, analysts forecast that the company will post sales of $2.13 billion per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Nuance Communications.

Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Wednesday, August 8th. The software maker reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. Nuance Communications had a positive return on equity of 9.67% and a negative net margin of 9.55%. The company had revenue of $502.89 million during the quarter, compared to the consensus estimate of $495.53 million. During the same period in the previous year, the firm posted $0.30 earnings per share. Nuance Communications’s quarterly revenue was up 3.4% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on NUAN shares. BidaskClub raised Nuance Communications from a “sell” rating to a “hold” rating in a report on Friday, June 15th. ValuEngine cut Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Friday, May 11th. Zacks Investment Research raised Nuance Communications from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Finally, Craig Hallum cut their price target on Nuance Communications from $24.00 to $17.00 and set an “in-line” rating on the stock in a report on Thursday, May 10th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $19.57.

Large investors have recently made changes to their positions in the stock. Icon Wealth Partners LLC bought a new stake in Nuance Communications during the second quarter worth approximately $116,000. Bristol John W & Co. Inc. NY bought a new stake in Nuance Communications during the first quarter worth approximately $138,000. Signition LP bought a new stake in Nuance Communications during the first quarter worth approximately $167,000. A.R.T. Advisors LLC bought a new stake in Nuance Communications during the first quarter worth approximately $184,000. Finally, Global X Management Co LLC bought a new stake in Nuance Communications during the second quarter worth approximately $184,000. 88.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NUAN traded up $0.05 during mid-day trading on Friday, reaching $16.64. 200,966 shares of the company’s stock traded hands, compared to its average volume of 2,139,920. The stock has a market cap of $4.76 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.66. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.32. Nuance Communications has a 12 month low of $12.18 and a 12 month high of $18.75.

Nuance Communications announced that its board has authorized a share buyback plan on Wednesday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire up to 10.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

About Nuance Communications

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.

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