Why Inteliquent (IQNT) Is Popping on Thursday

NEW YORK (TheStreet) -- Inteliquent (IQNT) is booking gains on Thursday on better-than-expected quarterly earnings and sales and guidance above consensus.

By midafternoon, shares had added 14.9% to $13.72. Trading volume of 1.66 million was more than three times its three-month daily average.

The voice and data host recorded net income of 27 cents a share in the three months to December. Analysts surveyed by Thomson Reuters had predicted 18 cents a share.

Revenue of $50.24 million was $130,000 higher than analyst consensus.

For fiscal 2014, management guided revenue between $200 million and $210 million. Analysts had forecast $199.55 million in total sales.

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TheStreet Ratings team rates INTELIQUENT INC as a Hold with a ratings score of C-. The team has this to say about their recommendation:

"We rate INTELIQUENT INC (IQNT) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."

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