Zagg (ZAGG) Updates FY 2019 Earnings Guidance

Zagg (NASDAQ:ZAGG) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.47-1.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.65. The company issued revenue guidance of $610-630 million, compared to the consensus revenue estimate of $627.01 million.

NASDAQ:ZAGG traded up $0.38 during midday trading on Tuesday, reaching $10.83. 558,229 shares of the stock traded hands, compared to its average volume of 280,140. Zagg has a 12 month low of $7.96 and a 12 month high of $19.40. The company has a quick ratio of 1.13, a current ratio of 1.76 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $287.94 million, a P/E ratio of 11.16, a P/E/G ratio of 1.07 and a beta of 1.52.

A number of equities research analysts recently commented on ZAGG shares. TheStreet lowered shares of Zagg from a b- rating to a c+ rating in a report on Monday, November 12th. BidaskClub upgraded shares of Zagg from a strong sell rating to a sell rating in a report on Wednesday, January 2nd. ValuEngine upgraded shares of Zagg from a strong sell rating to a sell rating in a report on Thursday, January 10th. Finally, Zacks Investment Research upgraded shares of Zagg from a hold rating to a strong-buy rating and set a $12.00 price target for the company in a report on Saturday, January 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $17.75.

A hedge fund recently raised its stake in Zagg stock. Geode Capital Management LLC grew its stake in Zagg Inc (NASDAQ:ZAGG) by 14.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 334,729 shares of the specialty retailer’s stock after purchasing an additional 42,147 shares during the quarter. Geode Capital Management LLC owned about 1.20% of Zagg worth $3,272,000 at the end of the most recent quarter. 83.55% of the stock is currently owned by institutional investors and hedge funds.

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About Zagg

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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