Plantronics, Inc. (PLT) Scheduled to Post Quarterly Earnings on Monday
Plantronics, Inc. (NYSE:PLT) is scheduled to be announcing its earnings results after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $0.81 per share for the quarter.
Plantronics (NYSE:PLT) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05). The company had revenue of $203.90 million during the quarter, compared to analyst estimates of $217.11 million. Plantronics had a net margin of 9.40% and a return on equity of 21.31%. The company’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 earnings per share. On average, analysts expect Plantronics to post $2.32 EPS for the current fiscal year and $2.59 EPS for the next fiscal year.
Shares of Plantronics, Inc. (NYSE PLT) opened at 46.32 on Friday. The firm has a market capitalization of $1.51 billion, a PE ratio of 18.83 and a beta of 1.28. The company has a 50-day moving average of $44.41 and a 200 day moving average of $49.11. Plantronics, Inc. has a 12-month low of $41.28 and a 12-month high of $58.27.
Plantronics announced that its Board of Directors has initiated a stock repurchase program on Thursday, July 27th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Plantronics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Northland Securities set a $57.00 price objective on shares of Plantronics and gave the stock a “buy” rating in a research note on Tuesday, July 25th. BidaskClub downgraded shares of Plantronics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. TheStreet downgraded shares of Plantronics from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Finally, J P Morgan Chase & Co downgraded shares of Plantronics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $63.00 to $60.00 in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $60.00.
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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