Wall Street brokerages predict that Zagg Inc (NASDAQ:ZAGG) will announce sales of $111.40 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Zagg’s earnings, with estimates ranging from $100.82 million to $133.50 million. Zagg posted sales of $92.95 million in the same quarter last year, which indicates a positive year over year growth rate of 19.8%. The business is scheduled to report its next quarterly earnings results on Tuesday, May 1st.
On average, analysts expect that Zagg will report full-year sales of $111.40 million for the current financial year, with estimates ranging from $552.11 million to $564.95 million. For the next fiscal year, analysts expect that the company will report sales of $568.89 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Zagg.
Zagg (NASDAQ:ZAGG) last announced its earnings results on Wednesday, March 7th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.02). Zagg had a net margin of 2.91% and a return on equity of 25.89%. The business had revenue of $176.92 million for the quarter, compared to analysts’ expectations of $167.15 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 53.9% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the company. Northland Securities reaffirmed a “buy” rating and set a $23.00 target price on shares of Zagg in a research report on Friday, December 1st. Craig Hallum set a $24.00 target price on Zagg and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research raised Zagg from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Saturday, January 6th. ValuEngine raised Zagg from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, B. Riley lowered Zagg from a “buy” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $16.00 in a research report on Thursday, March 8th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $17.17.
A number of institutional investors and hedge funds have recently made changes to their positions in ZAGG. SG Americas Securities LLC purchased a new stake in Zagg in the 4th quarter worth about $108,000. Financial Gravity Companies Inc. purchased a new stake in Zagg in the 4th quarter worth about $119,000. Voya Investment Management LLC increased its holdings in Zagg by 18.2% in the 2nd quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock worth $153,000 after acquiring an additional 2,730 shares during the last quarter. Caxton Associates LP purchased a new stake in Zagg in the 4th quarter worth about $194,000. Finally, IFC Holdings Incorporated FL purchased a new stake in Zagg in the 4th quarter worth about $229,000. 81.10% of the stock is owned by institutional investors.
Shares of Zagg (NASDAQ ZAGG) opened at $12.60 on Friday. Zagg has a 12-month low of $6.30 and a 12-month high of $23.70. The stock has a market capitalization of $356.68, a price-to-earnings ratio of 24.23, a PEG ratio of 1.81 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12.
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Zagg Company Profile
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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