-$0.29 EPS Expected for Bandwidth Inc (BAND) This Quarter

Wall Street brokerages expect that Bandwidth Inc (NASDAQ:BAND) will post earnings per share of ($0.29) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Bandwidth’s earnings. The highest EPS estimate is ($0.28) and the lowest is ($0.29). Bandwidth reported earnings per share of $0.09 in the same quarter last year, which suggests a negative year over year growth rate of 422.2%. The business is expected to issue its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that Bandwidth will report full-year earnings of $0.20 per share for the current year, with EPS estimates ranging from $0.19 to $0.21. For the next year, analysts forecast that the company will report earnings of ($0.50) per share, with EPS estimates ranging from ($0.88) to ($0.14). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bandwidth.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Tuesday, October 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.15. The business had revenue of $50.50 million for the quarter, compared to analyst estimates of $47.94 million. Bandwidth had a net margin of 9.58% and a return on equity of 4.99%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share.

BAND has been the topic of several research reports. Canaccord Genuity lifted their price objective on shares of Bandwidth from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Morgan Stanley lifted their price objective on shares of Bandwidth from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Wednesday, October 31st. ValuEngine raised shares of Bandwidth from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research lowered shares of Bandwidth from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Bandwidth has a consensus rating of “Buy” and an average price target of $48.00.

In other news, CEO David A. Morken sold 126,008 shares of the business’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $41.67, for a total value of $5,250,753.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel W. Christopher Matton sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $45.18, for a total transaction of $1,581,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 290,441 shares of company stock worth $12,148,134. Insiders own 48.62% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc raised its position in shares of Bandwidth by 101.4% in the third quarter. Vanguard Group Inc now owns 343,435 shares of the company’s stock valued at $18,398,000 after purchasing an additional 172,903 shares during the period. Vanguard Group Inc. raised its position in shares of Bandwidth by 101.4% in the third quarter. Vanguard Group Inc. now owns 343,435 shares of the company’s stock valued at $18,398,000 after purchasing an additional 172,903 shares during the period. Morgan Stanley raised its position in shares of Bandwidth by 124.3% in the third quarter. Morgan Stanley now owns 94,812 shares of the company’s stock valued at $5,079,000 after purchasing an additional 52,542 shares during the period. Man Group plc bought a new stake in shares of Bandwidth in the third quarter valued at approximately $348,000. Finally, LPL Financial LLC raised its position in shares of Bandwidth by 21.5% in the third quarter. LPL Financial LLC now owns 38,791 shares of the company’s stock valued at $2,078,000 after purchasing an additional 6,853 shares during the period. 39.35% of the stock is currently owned by institutional investors.

BAND stock traded down $0.05 during mid-day trading on Friday, hitting $41.61. The company had a trading volume of 66,000 shares, compared to its average volume of 145,938. The firm has a market cap of $811.84 million, a price-to-earnings ratio of 84.92 and a beta of 0.55. Bandwidth has a 12 month low of $19.45 and a 12 month high of $57.50.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides 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.

Further Reading: Quiet Period

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

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.

Leave a Reply