Plantronics Inc. (PLT) Releases Q3 Earnings Guidance
Plantronics Inc. (NYSE:PLT) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.60 to $0.65 for the period, compared to the Thomson Reuters consensus estimate of $0.74, Stock Ratings News reports. The company issued revenue guidance of $202 million to $210 million, compared to the consensus revenue estimate of $211.41 million.
Shares of Plantronics Inc. (NYSE:PLT) traded up 1.17% during mid-day trading on Tuesday, hitting $49.38. 228,173 shares of the company’s stock traded hands. Plantronics Inc. has a 52 week low of $30.90 and a 52 week high of $48.53. The stock’s 50-day moving average is $44.74 and its 200-day moving average is $44.74. The company has a market cap of $2.108 billion and a price-to-earnings ratio of 19.07.
Plantronics (NYSE:PLT) last announced its earnings results on Tuesday, October 29th. The company reported $0.64 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.01. The company had revenue of $194.00 million for the quarter, compared to the consensus estimate of $195.80 million. During the same quarter last year, the company posted $0.70 earnings per share. Plantronics’s revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that Plantronics Inc. will post $2.84 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Northland Securities raised their price target on shares of Plantronics from $51.00 to $53.00 in a research note to investors on Tuesday, October 15th. On a related note, analysts at Northland Capital Partners raised their price target on shares of Plantronics from $51.00 to $53.00 in a research note to investors on Tuesday, October 15th. They now have an outperform rating on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of Plantronics in a research note to investors on Monday, October 14th. They set a buy rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $51.58.
Plantronics, Inc is a designer, manufacturer and marketer of lightweight communications headsets, telephone headset systems and accessories for the worldwide business and consumer markets under the Plantronics brand.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.