$1.19 Billion in Sales Expected for Logitech International S.A. (NASDAQ:LOGI) This Quarter

Brokerages predict that Logitech International S.A. (NASDAQ:LOGI – Get Rating) will report sales of $1.19 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Logitech International’s earnings. The highest sales estimate is $1.23 billion and the lowest is $1.15 billion. Logitech International posted sales of $1.31 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 9.2%. The company is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Logitech International will report full-year sales of $5.70 billion for the current fiscal year, with estimates ranging from $5.48 billion to $5.92 billion. For the next financial year, analysts anticipate that the business will report sales of $6.01 billion, with estimates ranging from $5.79 billion to $6.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Logitech International.

Logitech International (NASDAQ:LOGI – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Logitech International had a return on equity of 29.97% and a net margin of 11.76%. During the same quarter in the prior year, the firm posted $1.36 EPS.

LOGI has been the topic of a number of analyst reports. Morgan Stanley increased their target price on Logitech International from $74.00 to $75.00 and gave the company an “underweight” rating in a report on Friday, March 4th. Credit Suisse Group lowered their target price on Logitech International from CHF 114 to CHF 107 in a report on Wednesday, January 26th. Loop Capital upgraded Logitech International from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $110.00 in a report on Friday, March 4th. UBS Group upgraded Logitech International from a “neutral” rating to a “buy” rating in a report on Tuesday, May 17th. Finally, StockNews.com assumed coverage on Logitech International in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $96.67.

In related news, General Counsel Samantha Harnett sold 1,320 shares of the stock in a transaction on Monday, March 21st. The stock was sold at an average price of $74.24, for a total value of $97,996.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC purchased a new position in shares of Logitech International in the 4th quarter worth $27,000. Parkside Investments LLC purchased a new position in Logitech International in the first quarter valued at about $36,000. Covestor Ltd purchased a new position in Logitech International in the fourth quarter valued at about $43,000. Lindbrook Capital LLC raised its position in Logitech International by 59.8% in the fourth quarter. Lindbrook Capital LLC now owns 719 shares of the technology company’s stock valued at $59,000 after purchasing an additional 269 shares during the period. Finally, Bessemer Group Inc. raised its position in Logitech International by 85.4% in the fourth quarter. Bessemer Group Inc. now owns 810 shares of the technology company’s stock valued at $67,000 after purchasing an additional 373 shares during the period.

NASDAQ:LOGI traded down $1.22 during trading hours on Friday, reaching $57.32. 1,162,726 shares of the company traded hands, compared to its average volume of 1,067,278. The firm’s 50-day moving average is $68.06 and its 200-day moving average is $75.55. The stock has a market cap of $9.57 billion, a P/E ratio of 15.49 and a beta of 0.90. Logitech International has a 1-year low of $56.23 and a 1-year high of $140.17.

About Logitech International (Get Rating)

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that helps people connect to digital and cloud experiences worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.

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