Zagg Inc (NASDAQ:ZAGG) – Equities research analysts at DA Davidson increased their Q1 2019 earnings per share estimates for shares of Zagg in a research report issued to clients and investors on Monday, December 3rd. DA Davidson analyst T. Forte now forecasts that the specialty retailer will earn $0.23 per share for the quarter, up from their prior estimate of $0.22. DA Davidson also issued estimates for Zagg’s Q2 2019 earnings at $0.14 EPS, Q3 2019 earnings at $0.56 EPS, FY2019 earnings at $1.61 EPS, FY2020 earnings at $1.76 EPS, FY2021 earnings at $1.83 EPS and FY2022 earnings at $1.88 EPS.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.09. Zagg had a return on equity of 32.36% and a net margin of 6.00%. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $149.13 million. During the same quarter last year, the business posted $0.34 EPS. Zagg’s revenue for the quarter was up 5.0% on a year-over-year basis.
ZAGG has been the topic of several other reports. BidaskClub raised Zagg from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. TheStreet downgraded Zagg from a “b-” rating to a “c+” rating in a report on Monday, November 12th. ValuEngine downgraded Zagg from a “sell” rating to a “strong sell” rating in a report on Friday, October 19th. Finally, B. Riley cut their target price on Zagg from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, November 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.80.
NASDAQ ZAGG opened at $10.21 on Wednesday. The firm has a market cap of $287.10 million, a P/E ratio of 10.53, a PEG ratio of 1.09 and a beta of 1.68. Zagg has a twelve month low of $9.54 and a twelve month high of $21.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.76.
Several hedge funds have recently bought and sold shares of ZAGG. BlackRock Inc. raised its position in shares of Zagg by 25.2% in 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. American Century Companies Inc. bought a new position in shares of Zagg in the 3rd quarter worth about $4,514,000. Marshall Wace LLP bought a new position in shares of Zagg in the 3rd quarter worth about $3,974,000. Dalton Greiner Hartman Maher & Co. bought a new position in shares of Zagg in the 3rd quarter worth about $2,800,000. Finally, Chicago Equity Partners LLC raised its position in shares of Zagg by 308.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 240,510 shares of the specialty retailer’s stock worth $4,161,000 after acquiring an additional 181,635 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.
In other Zagg news, President Brian Stech sold 10,000 shares of Zagg stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is currently owned by insiders.
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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