Analysts Anticipate Plantronics, Inc. (NYSE:POLY) Will Post Quarterly Sales of $427.29 Million

Brokerages predict that Plantronics, Inc. (NYSE:POLY) will report $427.29 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Plantronics’ earnings. The highest sales estimate is $432.48 million and the lowest is $422.10 million. Plantronics posted sales of $484.69 million in the same quarter last year, which would indicate a negative year over year growth rate of 11.8%. The firm is expected to issue its next earnings report on Thursday, February 3rd.

On average, analysts expect that Plantronics will report full-year sales of $1.70 billion for the current financial year, with estimates ranging from $1.70 billion to $1.71 billion. For the next year, analysts expect that the business will post sales of $1.76 billion, with estimates ranging from $1.72 billion to $1.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Plantronics.

Plantronics (NYSE:POLY) last posted its quarterly earnings data on Thursday, October 28th. The company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.52. Plantronics had a net margin of 5.03% and a negative return on equity of 178.02%. The business had revenue of $419.02 million for the quarter, compared to analyst estimates of $436.18 million. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.

A number of research analysts recently commented on POLY shares. Zacks Investment Research lowered shares of Plantronics from a “hold” rating to a “strong sell” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, November 3rd. Morgan Stanley lowered their price objective on shares of Plantronics from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, July 30th. Finally, Evercore ISI reiterated a “hold” rating and set a $30.00 price objective on shares of Plantronics in a research note on Friday, October 8th.

Shares of NYSE POLY traded up $0.94 during mid-day trading on Thursday, reaching $27.47. 204,129 shares of the company traded hands, compared to its average volume of 503,377. Plantronics has a fifty-two week low of $22.69 and a fifty-two week high of $50.89. The company has a debt-to-equity ratio of 670.92, a quick ratio of 1.07 and a current ratio of 1.50. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.34 and a beta of 1.84. The company has a fifty day moving average of $27.81.

In other news, CEO David M. Shull acquired 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 7th. The stock was purchased at an average price of $30.00 per share, with a total value of $105,000.00. Following the purchase, the chief executive officer now owns 181,094 shares of the company’s stock, valued at approximately $5,432,820. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Guido Jouret sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $28.34, for a total transaction of $76,518.00. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Plantronics Company Profile

Plantronics, Inc engages in the design, manufacture, and distribution of headsets, voice, video, and content sharing solutions. It operates through the following segments: Products and Services. The Products segment includes the firm’s headsets, voice, and video product lines. The Services segment includes the maintenance support on hardware devices, as well as professional, managed, and cloud services and solutions.

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