Plantronics (PLT) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS
Plantronics (NYSE:PLT) issued its quarterly earnings data on Tuesday. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.70 by $0.08, StockRatingsNetwork reports. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $210.95 million. During the same quarter last year, the company posted $0.70 earnings per share. Plantronics’s revenue was up 6.9% compared to the same quarter last year. Plantronics updated its Q2 guidance to $0.72-0.80 EPS.
Shares of Plantronics (NYSE:PLT) traded up 2.61% during mid-day trading on Tuesday, hitting $47.89. 418,406 shares of the company’s stock traded hands. Plantronics has a 52 week low of $41.14 and a 52 week high of $49.87. The stock has a 50-day moving average of $47.39 and a 200-day moving average of $44.79. The company has a market cap of $1.986 billion and a price-to-earnings ratio of 18.02.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.28%.
PLT has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Plantronics from $49.00 to $56.00 in a research note on Wednesday, July 2nd. They now have an “overweight” rating on the stock. Analysts at Roth Capital raised their price target on shares of Plantronics from $52.00 to $53.00 in a research note on Tuesday, July 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $53.50.
Plantronics, Inc (NYSE:PLT) is a global designer, manufacturer, and marketer of lightweight communications headsets, telephone headset systems, and accessories for the 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.