AudioCodes Ltd. (NASDAQ:AUDC) to Issue Dividend of $0.20

Key Points

• AudioCodes declared a $0.20-per-share dividend, payable September 3 to shareholders of record on August 19; the stock’s ex-dividend date is August 19. The company’s 51.9% payout ratio indicates the dividend is covered by earnings.
• AudioCodes shares recently traded at $10.04, near their 52-week high of $10.86, with a market capitalization of approximately $255.5 million. The company’s latest quarterly EPS of $0.14 fell short of the $0.16 consensus estimate, although revenue exceeded expectations.
• Institutional investors own approximately 68.05% of AudioCodes, with several funds—including Jane Street Group, Engineers Gate Manager, and Jump Financial—recently increasing their positions.

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) declared a dividend on Tuesday, August 4th. Stockholders of record on Wednesday, August 19th will be given a dividend of 0.20 per share by the communications equipment provider on Thursday, September 3rd. This represents a dividend yield of 398.0%. The ex-dividend date of this dividend is Wednesday, August 19th.

AudioCodes has increased its dividend by an average of 0.1%annually over the last three years. AudioCodes has a payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings.

AudioCodes Stock Performance

Shares of NASDAQ AUDC traded up $0.24 during mid-day trading on Tuesday, hitting $10.04. 334,267 shares of the stock traded hands, compared to its average volume of 124,956. The company has a market cap of $255.52 million, a price-to-earnings ratio of 40.16 and a beta of 0.96. The stock has a fifty day moving average price of $9.61 and a 200-day moving average price of $8.77. AudioCodes has a 52 week low of $6.95 and a 52 week high of $10.86.

AudioCodes (NASDAQ:AUDC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). AudioCodes had a return on equity of 6.33% and a net margin of 2.79%.The firm had revenue of $62.14 million during the quarter, compared to the consensus estimate of $61.50 million.

Institutional Trading of AudioCodes

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in AudioCodes in the 2nd quarter worth about $43,000. Jane Street Group LLC boosted its holdings in shares of AudioCodes by 14.2% during the 1st quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider's stock valued at $449,000 after acquiring an additional 5,938 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of AudioCodes by 29.4% during the 4th quarter. Engineers Gate Manager LP now owns 26,871 shares of the communications equipment provider's stock valued at $235,000 after acquiring an additional 6,098 shares during the last quarter. Jump Financial LLC grew its stake in shares of AudioCodes by 24.0% in the fourth quarter. Jump Financial LLC now owns 34,955 shares of the communications equipment provider's stock worth $305,000 after acquiring an additional 6,755 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of AudioCodes by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider's stock worth $718,000 after acquiring an additional 7,019 shares during the period. 68.05% of the stock is currently owned by institutional investors.

About AudioCodes

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha'Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source