Zacks: Brokerages Anticipate Zagg Inc (ZAGG) Will Post Quarterly Sales of $169.03 Million
Equities research analysts predict that Zagg Inc (NASDAQ:ZAGG) will report $169.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Zagg’s earnings, with the highest sales estimate coming in at $177.33 million and the lowest estimate coming in at $160.90 million. Zagg reported sales of $114.93 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 47.1%. The business is expected to issue its next earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that Zagg will report full year sales of $169.03 million for the current year, with estimates ranging from $503.47 million to $519.90 million. For the next fiscal year, analysts forecast that the business will post sales of $575.25 million per share, with estimates ranging from $559.47 million to $600.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Zagg.
Zagg (NASDAQ:ZAGG) last posted its quarterly earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. Zagg had a net margin of 0.63% and a return on equity of 6.59%. The business had revenue of $134.40 million during the quarter, compared to analyst estimates of $128.23 million. During the same quarter in the previous year, the business posted $0.29 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year.
Zagg (ZAGG) traded down $0.30 during trading hours on Monday, hitting $20.15. 806,700 shares of the stock traded hands, compared to its average volume of 458,776. Zagg has a twelve month low of $5.90 and a twelve month high of $23.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12. The company has a market cap of $563.70, a price-to-earnings ratio of 77.50, a P/E/G ratio of 4.02 and a beta of 0.93.
In other Zagg news, CEO Randall L. Hales sold 19,829 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $19.85, for a total transaction of $393,605.65. Following the sale, the chief executive officer now owns 713,380 shares of the company’s stock, valued at approximately $14,160,593. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Randall L. Hales sold 50,001 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $19.16, for a total transaction of $958,019.16. Following the sale, the chief executive officer now directly owns 713,380 shares in the company, valued at approximately $13,668,360.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,830 shares of company stock worth $1,903,425. Insiders own 4.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Gotham Asset Management LLC purchased a new stake in Zagg during the 2nd quarter worth approximately $100,000. Thompson Davis & CO. Inc. purchased a new stake in Zagg during the 3rd quarter worth approximately $231,000. American International Group Inc. grew its position in Zagg by 7.0% during the 1st quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock worth $122,000 after purchasing an additional 1,117 shares during the last quarter. Voya Investment Management LLC grew its position in Zagg by 18.2% during the 2nd quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 2,730 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in Zagg during the 2nd quarter worth approximately $169,000. 82.75% of the stock is currently owned by institutional investors.
Zagg Company Profile
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.
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