Bloomberg News

MagicJack Soars Most in 3 Months After Boosting Forecast

July 10, 2012

MagicJack VocalTec Ltd. (CALL:US) surged the most in three months in New York trading after the Israeli maker of phone-over-Internet technology raised its 2012 guidance.

MagicJack, based in Netanya, Israel, jumped 9.2 percent to $20.44 in New York, the sharpest climb since April 9. The shares have added 50 percent in 2012 and trade at a multiple of 15.1 times estimated earnings, compared with the average of 15.4 for companies traded on the Nasdaq Composite Index.

The technology company boosted its 2012 earnings-per-share outlook to between $1.50 and $1.80, compared with a previous forecast of $1.25 to $1.70, according to a statement today. MagicJack said second-quarter sales will be between $37.5 million and $38.5 million, up from a previous estimate of $36 million.

“It looks like sales of devices and renewals are strong, which bodes well for future growth,” Tim Horan, a communications and cloud services analyst at Oppenheimer & Co., wrote in an e-mail to Bloomberg today.

To contact the reporter on this story: Christine Harvey in New York at charvey32@bloomberg.net

To contact the editor responsible for this story: Tal Barak Harif at tbarak@bloomberg.net


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • CALL
    (magicJack VocalTec Ltd)
    • $12.02 USD
    • 0.01
    • 0.08%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus