Logitech (LOGI) Expected to Announce Earnings of $0.26 Per Share

Brokerages expect Logitech (NASDAQ:LOGI) to post earnings per share of $0.26 for the current quarter, according to Zacks. Two analysts have provided estimates for Logitech’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.25. Logitech reported earnings per share of $0.21 during the same quarter last year, which suggests a positive year over year growth rate of 23.8%. The firm is expected to announce its next quarterly earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that Logitech will report full year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.55. For the next year, analysts expect that the firm will report earnings of $1.74 per share, with EPS estimates ranging from $1.66 to $1.82. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Logitech.

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Logitech (NASDAQ:LOGI) last released its quarterly earnings results on Monday, January 22nd. The technology company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.10. Logitech had a net margin of 8.10% and a return on equity of 23.38%. The business had revenue of $812.02 million during the quarter, compared to analysts’ expectations of $753.47 million.

A number of equities analysts have commented on the stock. DA Davidson assumed coverage on shares of Logitech in a research note on Thursday, March 15th. They issued a “buy” rating and a $46.00 price target for the company. BidaskClub cut shares of Logitech from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. ValuEngine raised shares of Logitech from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. JPMorgan Chase cut shares of Logitech from a “neutral” rating to an “underweight” rating and set a $40.00 price target for the company. in a research note on Tuesday, February 6th. Finally, Citigroup boosted their price target on shares of Logitech from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Logitech currently has an average rating of “Buy” and an average price target of $45.33.

In other news, insider Marcel Stolk sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $39.48, for a total value of $789,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bracken Darrell sold 96,000 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $43.20, for a total transaction of $4,147,200.00. Following the completion of the sale, the chief executive officer now directly owns 783,427 shares of the company’s stock, valued at approximately $33,844,046.40. The disclosure for this sale can be found here. In the last three months, insiders sold 292,673 shares of company stock valued at $12,376,204. Corporate insiders own 2.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in LOGI. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Logitech in the 4th quarter valued at $38,929,000. Bank of New York Mellon Corp boosted its stake in shares of Logitech by 750.1% in the 4th quarter. Bank of New York Mellon Corp now owns 902,531 shares of the technology company’s stock valued at $30,471,000 after purchasing an additional 796,361 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Logitech by 142.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,204,941 shares of the technology company’s stock valued at $40,681,000 after purchasing an additional 708,752 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Logitech by 35.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,234,689 shares of the technology company’s stock valued at $45,429,000 after purchasing an additional 325,517 shares in the last quarter. Finally, Icon Advisers Inc. Co. boosted its stake in shares of Logitech by 1,131.1% in the 4th quarter. Icon Advisers Inc. Co. now owns 280,684 shares of the technology company’s stock valued at $9,442,000 after purchasing an additional 257,884 shares in the last quarter. 35.10% of the stock is owned by institutional investors.

LOGI stock opened at $35.88 on Friday. Logitech has a one year low of $30.64 and a one year high of $43.54. The company has a market capitalization of $5,891.75, a price-to-earnings ratio of 30.93, a P/E/G ratio of 4.40 and a beta of 0.90.

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About Logitech

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.

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