Focusrite (LON:TUNE) Releases Earnings Results

Focusrite (LON:TUNE) posted its quarterly earnings results on Tuesday. The company reported GBX 13.20 EPS for the quarter, Digital Look Earnings reports. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. The business had revenue of GBX 9,034 million for the quarter.

Focusrite Stock Up 5.1%

Focusrite stock opened at GBX 230.10 on Tuesday. The company has a market capitalization of £135.22 million, a P/E ratio of 25.57, a P/E/G ratio of 2.95 and a beta of 1.12. The firm’s fifty day simple moving average is GBX 244.68 and its 200-day simple moving average is GBX 221.70. The company has a current ratio of 3.53, a quick ratio of 0.77 and a debt-to-equity ratio of 26.31. Focusrite has a 1-year low of GBX 155 and a 1-year high of GBX 283.95.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 355 price target on shares of Focusrite in a research note on Tuesday. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 355.

Focusrite Company Profile

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound.

We are a rapidly growing group of innovative, market-leading brands, operating across two divisions.

Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.