Blucora (NASDAQ:BCOR) Releases Q3 Earnings Guidance

Blucora (NASDAQ:BCOR) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of ($0.20)-($0.29) for the period, compared to the Thomson Reuters consensus estimate of ($0.10). The company issued revenue guidance of $142.5-149.5 million, compared to the consensus revenue estimate of $146.30 million.Blucora also updated its FY 2019 guidance to $1.84-2.04 EPS.

A number of equities research analysts have weighed in on the stock. BidaskClub cut shares of Blucora from a sell rating to a strong sell rating in a report on Thursday. Zacks Investment Research cut shares of Blucora from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, ValuEngine cut shares of Blucora from a buy rating to a hold rating in a report on Saturday, May 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $39.67.

Shares of NASDAQ BCOR traded down $0.31 during midday trading on Friday, hitting $23.37. The stock had a trading volume of 390,488 shares, compared to its average volume of 317,362. The firm’s 50 day moving average is $29.26. The stock has a market cap of $1.28 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.71 and a beta of 0.58. Blucora has a 52 week low of $22.93 and a 52 week high of $41.35. The company has a current ratio of 2.05, a quick ratio of 2.43 and a debt-to-equity ratio of 0.55.

Blucora (NASDAQ:BCOR) last issued its earnings results on Wednesday, August 7th. The information services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.12. The firm had revenue of $193.70 million for the quarter, compared to the consensus estimate of $191.26 million. Blucora had a net margin of 10.27% and a return on equity of 14.94%. The business’s revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. Sell-side analysts expect that Blucora will post 1.85 earnings per share for the current fiscal year.

In other news, CEO John S. Clendening sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $29.23, for a total value of $292,300.00. Following the transaction, the chief executive officer now owns 721,217 shares in the company, valued at $21,081,172.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director H. Mcintyre Gardner sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.05, for a total transaction of $80,125.00. Following the completion of the transaction, the director now owns 18,689 shares in the company, valued at approximately $598,982.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,914 shares of company stock worth $2,731,887. Insiders own 3.40% of the company’s stock.

About Blucora

Blucora, Inc provides technology-enabled financial solutions to consumers, small business owners, and tax professionals in the United States. The company operates through two segments, Wealth Management and Tax Preparation. The Wealth Management segment offers an integrated platform of brokerage, investment advisory, and insurance services to financial advisors.

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