$630.23 Million in Sales Expected for Logitech International S.A. (LOGI) This Quarter
Wall Street brokerages expect Logitech International S.A. (NASDAQ:LOGI) to announce $630.23 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Logitech International’s earnings, with the lowest sales estimate coming in at $627.53 million and the highest estimate coming in at $632.93 million. Logitech International posted sales of $564.30 million during the same quarter last year, which suggests a positive year over year growth rate of 11.7%. The firm is scheduled to announce its next earnings results on Tuesday, October 24th.
On average, analysts expect that Logitech International will report full year sales of $630.23 million for the current financial year. For the next year, analysts expect that the firm will report sales of $2.68 billion per share, with estimates ranging from $2.67 billion to $2.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Logitech International.
Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, July 24th. The technology company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The company had revenue of $529.95 million for the quarter, compared to analyst estimates of $521.24 million. Logitech International had a net margin of 9.15% and a return on equity of 25.18%.
A number of equities analysts have issued reports on LOGI shares. Loop Capital started coverage on Logitech International in a research report on Monday, July 24th. They issued a “buy” rating and a $48.00 target price on the stock. Citigroup Inc. started coverage on Logitech International in a research report on Thursday, July 6th. They issued a “buy” rating and a $44.00 target price on the stock. Aegis started coverage on Logitech International in a research report on Tuesday, June 13th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Zacks Investment Research lowered Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Logitech International presently has a consensus rating of “Buy” and a consensus target price of $39.50.
In related news, CFO Vincent Pilette sold 13,804 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $36.25, for a total transaction of $500,395.00. Following the sale, the chief financial officer now directly owns 460,127 shares of the company’s stock, valued at approximately $16,679,603.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Bracken Darrell sold 110,330 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $36.15, for a total value of $3,988,429.50. Following the sale, the chief executive officer now directly owns 940,542 shares in the company, valued at $34,000,593.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 319,245 shares of company stock worth $11,549,298. Corporate insiders own 2.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of LOGI. Bank of Montreal Can raised its position in shares of Logitech International by 13.5% during the 1st quarter. Bank of Montreal Can now owns 13,348 shares of the technology company’s stock valued at $426,000 after acquiring an additional 1,585 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Logitech International by 15.0% during the 1st quarter. Russell Investments Group Ltd. now owns 154,744 shares of the technology company’s stock valued at $4,924,000 after acquiring an additional 20,135 shares in the last quarter. Comerica Bank raised its position in shares of Logitech International by 1.3% during the 1st quarter. Comerica Bank now owns 9,924 shares of the technology company’s stock valued at $324,000 after acquiring an additional 129 shares in the last quarter. World Asset Management Inc raised its position in shares of Logitech International by 0.5% during the 1st quarter. World Asset Management Inc now owns 10,738 shares of the technology company’s stock valued at $342,000 after acquiring an additional 58 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Logitech International during the 1st quarter valued at approximately $1,810,000. 37.84% of the stock is currently owned by institutional investors and hedge funds.
Logitech International (LOGI) opened at 36.71 on Friday. Logitech International has a 52 week low of $21.14 and a 52 week high of $40.82. The firm has a 50-day moving average of $35.64 and a 200 day moving average of $34.80. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 27.66 and a beta of 0.57.
The company also recently declared a dividend, which will be paid on Wednesday, September 27th. Investors of record on Tuesday, September 26th will be given a dividend of $0.6454 per share. This is a positive change from Logitech International’s previous dividend of $0.52. The ex-dividend date is Monday, September 25th. Logitech International’s dividend payout ratio is currently 45.97%.
About Logitech International
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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