Plantronics Price Target Increased to $55.00 by Analysts at Roth Capital (PLT)
Equities researchers at Roth Capital boosted their target price on shares of Plantronics (NYSE:PLT) from $53.00 to $55.00 in a research report issued on Thursday. Roth Capital’s price target points to a potential upside of 18.53% from the stock’s previous close.
Plantronics (NYSE:PLT) traded down 1.21% during mid-day trading on Thursday, hitting $46.40. The stock had a trading volume of 293,173 shares. 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 $47.36 and a 200-day moving average of $44.84. The company has a market cap of $1.931 billion and a P/E ratio of 17.72.
Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.70 by $0.08. 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. On average, analysts predict that Plantronics will post $3.06 earnings per share for the current fiscal year.
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 1.29%.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Plantronics from a “neutral” rating to an “outperform” rating in a research note on Wednesday. They now have a $50.40 price target on the stock. Separately, analysts at Northland Securities raised their price target on shares of Plantronics from $51.00 to $53.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Finally, 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $54.20.
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.
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