$0.55 EPS Expected for Plantronics, Inc. (NYSE:POLY) This Quarter

Equities research analysts expect that Plantronics, Inc. (NYSE:POLY) will post earnings per share of $0.55 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Plantronics’ earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.41. Plantronics posted earnings of $0.93 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 40.9%. The business is expected to issue its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Plantronics will report full-year earnings of $2.92 per share for the current financial year, with EPS estimates ranging from $2.67 to $3.27. For the next financial year, analysts expect that the company will report earnings of $3.73 per share, with EPS estimates ranging from $3.60 to $3.81. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Plantronics.

Plantronics (NYSE:POLY) last announced its earnings results on Thursday, July 29th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.40. Plantronics had a negative net margin of 1.06% and a negative return on equity of 127.71%. The business had revenue of $431.17 million for the quarter, compared to the consensus estimate of $418.44 million.

Several research analysts recently commented on the stock. Evercore ISI reaffirmed a “hold” rating and issued a $30.00 price target on shares of Plantronics in a research note on Friday, October 8th. Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating and set a $28.00 price target on the stock in a research note on Monday, October 4th. Finally, Morgan Stanley reduced their price target on shares of Plantronics from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, July 30th.

Shares of POLY traded up $1.85 during midday trading on Friday, hitting $28.18. The stock had a trading volume of 14,102 shares, compared to its average volume of 510,564. Plantronics has a 1 year low of $16.50 and a 1 year high of $50.89. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -58.64 and a beta of 1.84. The company’s 50 day moving average is $28.55.

In related news, CEO David M. Shull acquired 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 7th. The stock was purchased at an average cost of $30.00 per share, with a total value of $105,000.00. Following the transaction, the chief executive officer now directly owns 181,094 shares of the company’s stock, valued at approximately $5,432,820. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Warren Schlichting acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 13th. The stock was bought at an average cost of $28.94 per share, with a total value of $57,880.00. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.

Plantronics Company Profile

Plantronics, Inc engages in the design, manufacture, and distribution of headsets, voice, video, and content sharing solutions. It operates through the following segments: Products and Services. The Products segment includes the firm’s headsets, voice, and video product lines. The Services segment includes the maintenance support on hardware devices, as well as professional, managed, and cloud services and solutions.

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