Inteliquent Inc. (NASDAQ:IQNT)‘s stock had its “underperform” rating reissued by equities researchers at Raymond James Financial Inc. in a note issued to investors on Tuesday.
Several other equities analysts have also recently issued reports on IQNT. Zacks Investment Research raised Inteliquent from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 18th. Morgan Stanley reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Inteliquent in a research report on Monday, August 1st. BWS Financial lowered their price objective on Inteliquent from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Finally, Drexel Hamilton assumed coverage on Inteliquent in a research report on Tuesday, October 4th. They issued a “buy” rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.67.
Shares of Inteliquent (NASDAQ:IQNT) opened at 22.97 on Tuesday. Inteliquent has a 1-year low of $14.56 and a 1-year high of $23.67. The company has a market cap of $790.72 million, a price-to-earnings ratio of 21.67 and a beta of 1.11. The company’s 50-day moving average price is $19.46 and its 200 day moving average price is $17.93.
Inteliquent (NASDAQ:IQNT) last released its quarterly earnings data on Monday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.04. The business earned $99.40 million during the quarter, compared to the consensus estimate of $92.61 million. Inteliquent had a net margin of 10.35% and a return on equity of 19.22%. The business’s revenue was up 56.0% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, analysts predict that Inteliquent will post $1.19 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in IQNT. BlackRock Fund Advisors raised its stake in shares of Inteliquent by 141.5% in the second quarter. BlackRock Fund Advisors now owns 2,345,354 shares of the company’s stock worth $46,649,000 after buying an additional 1,374,028 shares in the last quarter. LSV Asset Management raised its stake in shares of Inteliquent by 22.7% in the second quarter. LSV Asset Management now owns 1,780,064 shares of the company’s stock worth $35,405,000 after buying an additional 329,077 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Inteliquent by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,715,582 shares of the company’s stock worth $27,535,000 after buying an additional 286,380 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Inteliquent during the second quarter worth $5,088,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Inteliquent during the second quarter worth $4,770,000. Institutional investors and hedge funds own 84.21% of the company’s stock.