Equities research analysts expect Zagg Inc (NASDAQ:ZAGG) to report earnings of $0.42 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Zagg’s earnings, with estimates ranging from $0.40 to $0.43. Zagg posted earnings of $0.34 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.5%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that Zagg will report full year earnings of $1.40 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $1.45. For the next financial year, analysts anticipate that the company will post earnings of $1.55 per share, with EPS estimates ranging from $1.49 to $1.60. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Zagg.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, July 31st. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). The company had revenue of $118.57 million during the quarter, compared to analysts’ expectations of $116.44 million. Zagg had a net margin of 5.18% and a return on equity of 30.17%.
A number of equities research analysts have recently issued reports on ZAGG shares. BidaskClub downgraded shares of Zagg from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. ValuEngine downgraded shares of Zagg from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Finally, B. Riley upped their target price on shares of Zagg from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $19.43.
In related news, President Brian Stech sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the sale, the president now directly owns 198,864 shares of the company’s stock, valued at approximately $2,917,334.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in Zagg by 6.8% during the 1st quarter. Royal Bank of Canada now owns 2,892,274 shares of the specialty retailer’s stock worth $35,285,000 after acquiring an additional 183,207 shares in the last quarter. BlackRock Inc. grew its holdings in Zagg by 25.2% during the 2nd quarter. BlackRock Inc. now owns 2,285,277 shares of the specialty retailer’s stock worth $39,535,000 after acquiring an additional 459,802 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Zagg by 26.1% during the 2nd quarter. Baird Financial Group Inc. now owns 603,571 shares of the specialty retailer’s stock worth $10,442,000 after acquiring an additional 125,035 shares in the last quarter. Tieton Capital Management LLC grew its holdings in Zagg by 34.1% during the 2nd quarter. Tieton Capital Management LLC now owns 453,667 shares of the specialty retailer’s stock worth $7,848,000 after acquiring an additional 115,260 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Zagg by 862.7% during the 1st quarter. Hsbc Holdings PLC now owns 435,663 shares of the specialty retailer’s stock worth $5,315,000 after acquiring an additional 390,407 shares in the last quarter. 85.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zagg stock traded down $0.05 on Friday, reaching $13.29. The company had a trading volume of 265,395 shares, compared to its average volume of 450,784. The company has a market capitalization of $415.34 million, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.49. Zagg has a 52-week low of $10.90 and a 52-week high of $23.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.66.
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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