Brokerages forecast that West Corporation (NASDAQ:WSTC) will announce earnings of $0.65 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for West Corporation’s earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.65. West Corporation reported earnings per share of $0.73 in the same quarter last year, which suggests a negative year over year growth rate of 11%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 7th.
According to Zacks, analysts expect that West Corporation will report full year earnings of $2.83 per share for the current financial year. For the next year, analysts forecast that the firm will post earnings of $2.82 per share. Zacks’ EPS averages are an average based on a survey of research analysts that cover West Corporation.
WSTC has been the subject of a number of research reports. Wells Fargo & Company reiterated a “market perform” rating and issued a $23.50 price target on shares of West Corporation in a research note on Wednesday, May 10th. Deutsche Bank AG downgraded West Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. William Blair downgraded West Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 10th. Robert W. Baird downgraded West Corporation from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, May 10th. Finally, Zacks Investment Research upgraded West Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, April 6th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.10.
In other West Corporation news, insider Rodney J. Kempkes sold 1,160 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $23.15, for a total value of $26,854.00. Following the transaction, the insider now owns 62,275 shares of the company’s stock, valued at $1,441,666.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rodney J. Kempkes sold 3,257 shares of the firm’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $25.43, for a total transaction of $82,825.51. Following the completion of the transaction, the insider now directly owns 63,889 shares in the company, valued at approximately $1,624,697.27. The disclosure for this sale can be found here. Insiders sold 7,197 shares of company stock worth $176,233 in the last three months. 4.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of West Corporation during the fourth quarter worth about $29,931,000. Vanguard Group Inc. boosted its position in shares of West Corporation by 10.6% in the first quarter. Vanguard Group Inc. now owns 5,671,163 shares of the technology company’s stock worth $138,489,000 after buying an additional 544,296 shares in the last quarter. Cowen Group Inc. acquired a new position in shares of West Corporation during the first quarter worth about $8,783,000. JPMorgan Chase & Co. boosted its position in shares of West Corporation by 15.3% in the first quarter. JPMorgan Chase & Co. now owns 1,635,042 shares of the technology company’s stock worth $39,928,000 after buying an additional 216,380 shares in the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of West Corporation during the first quarter worth about $3,802,000. 69.73% of the stock is currently owned by hedge funds and other institutional investors.
West Corporation (NASDAQ:WSTC) traded up 0.22% during midday trading on Monday, reaching $23.26. 369,108 shares of the company’s stock traded hands. West Corporation has a one year low of $18.55 and a one year high of $28.57. The stock’s 50 day moving average price is $23.51 and its 200-day moving average price is $24.31. The stock has a market cap of $1.94 billion, a PE ratio of 9.73 and a beta of 1.59.
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About West Corporation
West Corporation is a provider of communication and network infrastructure services. The Company helps its clients communicate, collaborate and connect with their audiences through a portfolio of solutions that include unified communications services, safety services, and interactive services, such as automated notifications, specialized agent services and telecom services.
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