Brokerages forecast that Zagg Inc (NASDAQ:ZAGG) will report $163.31 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Zagg’s earnings, with the highest sales estimate coming in at $163.55 million and the lowest estimate coming in at $163.09 million. Zagg reported sales of $176.92 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7.7%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, March 6th.
According to Zacks, analysts expect that Zagg will report full year sales of $535.03 million for the current fiscal year, with estimates ranging from $534.81 million to $535.27 million. For the next fiscal year, analysts anticipate that the company will post sales of $578.47 million, with estimates ranging from $552.12 million to $618.34 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Zagg.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.09. Zagg had a net margin of 6.00% and a return on equity of 32.36%. The firm had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $149.13 million. During the same period last year, the business earned $0.34 earnings per share. Zagg’s revenue was up 5.0% compared to the same quarter last year.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Zagg from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research note on Saturday. TheStreet lowered shares of Zagg from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. ValuEngine raised shares of Zagg from a “strong sell” rating to a “sell” rating in a research note on Thursday. BidaskClub lowered shares of Zagg from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Finally, B. Riley lowered their target price on shares of Zagg from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, November 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Zagg presently has a consensus rating of “Hold” and an average target price of $18.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Zagg by 11.5% in the third quarter. BlackRock Inc. now owns 2,548,418 shares of the specialty retailer’s stock valued at $37,590,000 after purchasing an additional 263,141 shares during the period. Wasatch Advisors Inc. boosted its stake in shares of Zagg by 8.2% in the third quarter. Wasatch Advisors Inc. now owns 1,584,698 shares of the specialty retailer’s stock valued at $23,374,000 after purchasing an additional 120,541 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Zagg by 3.2% in the third quarter. Baird Financial Group Inc. now owns 623,065 shares of the specialty retailer’s stock valued at $9,066,000 after purchasing an additional 19,494 shares during the period. Northern Trust Corp boosted its stake in shares of Zagg by 8.2% in the second quarter. Northern Trust Corp now owns 406,625 shares of the specialty retailer’s stock valued at $7,034,000 after purchasing an additional 30,715 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Zagg by 19.6% in the third quarter. Bank of New York Mellon Corp now owns 352,609 shares of the specialty retailer’s stock valued at $5,200,000 after purchasing an additional 57,735 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.
ZAGG stock traded down $0.25 during mid-day trading on Wednesday, hitting $11.04. 20,638 shares of the company were exchanged, compared to its average volume of 385,188. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.13. The firm has a market cap of $320.73 million, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.01 and a beta of 1.50. Zagg has a 12-month low of $7.96 and a 12-month high of $19.40.
ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.
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