Focusrite (LON:TUNE) Announces Earnings Results

Focusrite (LON:TUNE) issued its quarterly earnings results on Tuesday. The company reported GBX 13.20 EPS for the quarter, Digital Look Earnings reports. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. The firm had revenue of GBX 9,034 million during the quarter.

Focusrite Stock Up 6.3%

LON TUNE traded up GBX 13.80 during trading hours on Tuesday, hitting GBX 232.80. The company had a trading volume of 158,580 shares, compared to its average volume of 165,971. Focusrite has a fifty-two week low of GBX 155 and a fifty-two week high of GBX 283.95. The company has a market capitalization of £136.80 million, a price-to-earnings ratio of 25.87, a P/E/G ratio of 2.95 and a beta of 1.12. The company has a debt-to-equity ratio of 26.31, a current ratio of 3.53 and a quick ratio of 0.77. The firm’s 50 day moving average is GBX 244.68 and its 200 day moving average is GBX 221.70.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 355 price target on shares of Focusrite in a report on Tuesday. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Focusrite currently has an average rating of “Buy” and a consensus target price of GBX 355.

About Focusrite

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound.

We are a rapidly growing group of innovative, market-leading brands, operating across two divisions.

Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.