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Polycom (PLCM) Announces Quarterly Results
Polycom (NASDAQ:PLCM) announced its earnings results on Wednesday. The company reported $0.11 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.11,�ARN�reports. The company had revenue of $336.50 million for the quarter, compared to the consensus estimate of $336.40 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis.
Polycom (NASDAQ:PLCM) traded down 1.20% during mid-day trading on Wednesday, hitting $10.72. 4,260,749 shares of the company's stock traded hands. Polycom has a one year low of $9.00 and a one year high of $12.03. The stock's 50-day moving average is $10.05 and its 200-day moving average is $10.57. The company's market cap is $1.818 billion.
A number of analysts have recently weighed in on PLCM shares. Analysts at Raymond James upgraded shares of Polycom from a "market perform" rating to an "outperform" rating in a research note to investors on Thursday, September 12th. They now have a $12.50 price target on the stock. On a related note, analysts at Zacks reiterated a "neutral" rating on shares of Polycom in a research note to investors on Wednesday, August 21st. They now have a $11.00 price target on the stock. Finally, analysts at Northland Capital Partners cut their price target on shares of Polycom from $14.50 to $12.00 in a research note to investors on Thursday, July 25th. They now have an "outperform" rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of "Hold" and a consensus price target of $11.20.
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