$129.41 Million in Sales Expected for Zagg Inc (ZAGG) This Quarter
Wall Street analysts forecast that Zagg Inc (NASDAQ:ZAGG) will post $129.41 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Zagg’s earnings. The lowest sales estimate is $120.00 million and the highest is $140.23 million. Zagg reported sales of $124.66 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The company is expected to report its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Zagg will report full year sales of $129.41 million for the current year, with estimates ranging from $486.40 million to $489.59 million. For the next fiscal year, analysts forecast that the business will post sales of $497.56 million per share. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Zagg.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, August 1st. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $115.20 million for the quarter, compared to analysts’ expectations of $107.81 million. Zagg had a return on equity of 12.10% and a net margin of 2.95%. Zagg’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share.
Several research firms recently weighed in on ZAGG. Zacks Investment Research cut Zagg from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. BidaskClub raised Zagg from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Roth Capital set a $8.00 price target on Zagg and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Wunderlich dropped their price target on Zagg from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Finally, TheStreet raised Zagg from a “d+” rating to a “c-” rating in a report on Friday, May 5th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $9.75.
Shares of Zagg (NASDAQ ZAGG) opened at 11.15 on Wednesday. Zagg has a 52-week low of $5.15 and a 52-week high of $11.30. The company’s market capitalization is $311.80 million. The stock’s 50 day moving average price is $8.96 and its 200-day moving average price is $7.76.
A number of institutional investors have recently bought and sold shares of ZAGG. AJO LP bought a new position in Zagg during the second quarter worth approximately $3,715,000. Royce & Associates LP raised its position in Zagg by 43.4% in the second quarter. Royce & Associates LP now owns 576,154 shares of the specialty retailer’s stock worth $4,984,000 after buying an additional 174,254 shares during the period. Pacific Ridge Capital Partners LLC raised its position in Zagg by 28.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 608,701 shares of the specialty retailer’s stock worth $4,383,000 after buying an additional 133,304 shares during the period. California Public Employees Retirement System raised its position in Zagg by 134.5% in the first quarter. California Public Employees Retirement System now owns 197,900 shares of the specialty retailer’s stock worth $1,416,000 after buying an additional 113,500 shares during the period. Finally, Teton Advisors Inc. bought a new position in Zagg during the first quarter worth approximately $638,000. Hedge funds and other institutional investors own 77.52% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “$129.41 Million in Sales Expected for Zagg Inc (ZAGG) This Quarter” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/08/16/129-41-million-in-sales-expected-for-zagg-inc-zagg-this-quarter.html.
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Zagg Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zagg Inc and related stocks with our FREE daily email newsletter.