Brokerages expect ZAGG Inc (NASDAQ:ZAGG) to announce $0.17 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ZAGG’s earnings, with estimates ranging from $0.08 to $0.26. ZAGG posted earnings of $0.12 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 41.7%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 7th.
On average, analysts expect that ZAGG will report full-year earnings of $1.38 per share for the current fiscal year, with EPS estimates ranging from $1.29 to $1.45. For the next year, analysts expect that the firm will post earnings of $1.46 per share, with EPS estimates ranging from $1.40 to $1.55. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover ZAGG.
ZAGG (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, May 8th. The specialty retailer reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.28. ZAGG had a return on equity of 31.62% and a net margin of 5.25%. The firm had revenue of $112.10 million for the quarter, compared to analysts’ expectations of $96.62 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The firm’s quarterly revenue was up 20.7% on a year-over-year basis.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded ZAGG from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Sunday, January 21st. B. Riley cut ZAGG from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $16.00 in a research note on Thursday, March 8th. Craig Hallum restated a “buy” rating and set a $19.00 price target (down from $24.00) on shares of ZAGG in a research note on Thursday, March 8th. ValuEngine upgraded ZAGG from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 5th. Finally, DA Davidson began coverage on ZAGG in a research note on Thursday, March 15th. They set a “buy” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.13.
In other ZAGG news, Director Cheryl A. Larabee sold 18,594 shares of the company’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $14.49, for a total transaction of $269,427.06. Following the transaction, the director now directly owns 104,361 shares in the company, valued at $1,512,190.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in shares of ZAGG by 13.1% during the fourth quarter. Wells Fargo & Company MN now owns 48,283 shares of the specialty retailer’s stock worth $890,000 after acquiring an additional 5,578 shares during the period. Financial Gravity Companies Inc. increased its position in shares of ZAGG by 80.9% during the first quarter. Financial Gravity Companies Inc. now owns 12,873 shares of the specialty retailer’s stock worth $150,000 after acquiring an additional 5,757 shares during the period. Northern Trust Corp increased its position in shares of ZAGG by 1.6% during the first quarter. Northern Trust Corp now owns 375,910 shares of the specialty retailer’s stock worth $4,586,000 after acquiring an additional 5,830 shares during the period. SG Americas Securities LLC purchased a new stake in shares of ZAGG during the fourth quarter worth $108,000. Finally, Cadence Capital Management LLC increased its position in shares of ZAGG by 7.8% during the fourth quarter. Cadence Capital Management LLC now owns 97,559 shares of the specialty retailer’s stock worth $1,800,000 after acquiring an additional 7,026 shares during the period. Institutional investors own 85.82% of the company’s stock.
ZAGG traded up $0.33, reaching $15.68, during trading hours on Monday, according to Marketbeat. The company’s stock had a trading volume of 310,717 shares, compared to its average volume of 553,281. ZAGG has a fifty-two week low of $8.00 and a fifty-two week high of $23.70. The stock has a market capitalization of $435.03 million, a PE ratio of 16.16, a P/E/G ratio of 2.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 1.67.
ZAGG Company Profile
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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