NEW YORK (TheStreet) -- Shares of BroadSoft (BSFT) closed lower by 6.10% to $41.55 on heavy trading volume Monday as the telecommunications software and services provider reported better-than-expected results for the 2016 third-quarter, but gave light guidance for the fourth quarter.
Before today's market open, Gaithersburg, MD-based BroadSoft said it expects to post adjusted earnings of 65 cents to 83 cents per share, while analysts surveyed by FactSet are looking for adjusted earnings of 80 cents per share.
Revenue is forecast to be in the range of $94.0 million to $102.0 million vs. the FactSet consensus of $100.3 million.
BroadSoft sees adjusted earnings in the range of $2.04 to $2.22 per share for 2016. Analysts surveyed by FactSet are modeling adjusted earnings of $2.08 per share. The company expects revenue to be between $333.0 million and $341.0 million, while the FactSet consensus is $337.3 million.
For the third quarter, Broadsoft reported adjusted earnings of 52 cents per share, which surpassed Wall Street's expected 37 cents per share.
Revenue came in at $84.1 million, beating analysts' expected $81.3 million.
More than 2.41 million of the company's shares changed hands so far today vs. its average 30-day volume of 252,250 shares per day.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Broadsoft as a Hold with a ratings score of C. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, the team finds that the company's return on equity has been disappointing.
You can view the full analysis from the report here: BSFT