$39.85 Million in Sales Expected for Turtle Beach Corporation (HEAR) This Quarter
Equities analysts predict that Turtle Beach Corporation (NASDAQ:HEAR) will report sales of $39.85 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Turtle Beach Corporation’s earnings. The lowest sales estimate is $39.60 million and the highest is $40.10 million. Turtle Beach Corporation reported sales of $38.38 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The company is expected to announce its next quarterly earnings report on Thursday, November 9th.
On average, analysts expect that Turtle Beach Corporation will report full-year sales of $39.85 million for the current year, with estimates ranging from $158.60 million to $162.00 million. For the next financial year, analysts forecast that the firm will post sales of $175.60 million per share, with estimates ranging from $175.00 million to $176.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Turtle Beach Corporation.
Turtle Beach Corporation (NASDAQ:HEAR) last released its earnings results on Thursday, August 10th. The communications equipment provider reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. Turtle Beach Corporation had a negative return on equity of 830.32% and a negative net margin of 32.19%. The company had revenue of $19.11 million during the quarter, compared to the consensus estimate of $17.54 million.
A number of research analysts have issued reports on the company. B. Riley reiterated a “neutral” rating and set a $1.30 price target on shares of Turtle Beach Corporation in a research report on Friday, May 12th. Zacks Investment Research upgraded Turtle Beach Corporation from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a research report on Tuesday, August 15th. Finally, ValuEngine lowered Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday.
A hedge fund recently bought a new stake in Turtle Beach Corporation stock. Coldstream Capital Management Inc. acquired a new stake in Turtle Beach Corporation (NASDAQ:HEAR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,729,044 shares of the communications equipment provider’s stock, valued at approximately $3,310,000. Coldstream Capital Management Inc. owned 9.58% of Turtle Beach Corporation as of its most recent SEC filing. Institutional investors and hedge funds own 16.06% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “$39.85 Million in Sales Expected for Turtle Beach Corporation (HEAR) This Quarter” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/09/04/39-85-million-in-sales-expected-for-turtle-beach-corporation-hear-this-quarter.html.
Shares of Turtle Beach Corporation (NASDAQ HEAR) opened at 0.7306 on Monday. Turtle Beach Corporation has a 12-month low of $0.56 and a 12-month high of $2.00. The firm’s market cap is $36.08 million. The firm has a 50-day moving average price of $0.70 and a 200-day moving average price of $0.83.
About Turtle Beach Corporation
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Turtle Beach Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turtle Beach Corporation and related stocks with our FREE daily email newsletter.