Somewhat Positive Press Coverage Somewhat Unlikely to Affect Plantronics (PLT) Share Price
News headlines about Plantronics (NYSE:PLT) have been trending somewhat positive recently, Accern Sentiment reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Plantronics earned a coverage optimism score of 0.23 on Accern’s scale. Accern also assigned news headlines about the technology company an impact score of 46.0200723657267 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
A number of equities analysts have weighed in on the company. Northland Securities set a $57.00 target price on Plantronics and gave the stock a “buy” rating in a research note on Tuesday, July 25th. J P Morgan Chase & Co lowered Plantronics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $63.00 to $60.00 in a research note on Friday, July 28th. BidaskClub lowered Plantronics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded Plantronics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, TheStreet lowered Plantronics from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Plantronics presently has an average rating of “Hold” and an average target price of $60.00.
Shares of Plantronics (NYSE:PLT) traded down 0.25% during trading on Tuesday, reaching $44.69. The company’s stock had a trading volume of 108,002 shares. The company has a market cap of $1.45 billion, a PE ratio of 18.17 and a beta of 1.28. The company has a 50 day moving average of $43.58 and a 200 day moving average of $49.60. Plantronics has a 12-month low of $41.28 and a 12-month high of $58.27.
Plantronics (NYSE:PLT) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). Plantronics had a net margin of 9.40% and a return on equity of 21.31%. The business had revenue of $203.90 million during the quarter, compared to analysts’ expectations of $217.11 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Plantronics’s revenue was down 8.6% on a year-over-year basis. On average, analysts anticipate that Plantronics will post $2.88 EPS for the current fiscal year.
Plantronics declared that its Board of Directors has approved a stock buyback plan on Thursday, July 27th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Plantronics Company Profile
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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