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

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

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

AudioCodes Price Performance

AudioCodes stock traded up $0.24 during mid-day trading on Tuesday, reaching $10.04. 334,267 shares of the stock traded hands, compared to its average volume of 124,956. AudioCodes has a 12-month low of $6.95 and a 12-month high of $10.86. The business’s 50-day moving average is $9.61 and its 200-day moving average is $8.77. The stock has a market capitalization of $255.52 million, a PE ratio of 40.16 and a beta of 0.96.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $62.14 million during the quarter, compared to the consensus estimate of $61.50 million. AudioCodes had a return on equity of 6.33% and a net margin of 2.79%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

AudioCodes Company Profile

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.