$108.63 Million in Sales Expected for Zagg Inc (ZAGG) This Quarter
Brokerages predict that Zagg Inc (NASDAQ:ZAGG) will report $108.63 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Zagg’s earnings. The highest sales estimate is $113 million and the lowest is $105.8 million. Zagg posted sales of $99.83 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.8%. The firm is expected to issue its next earnings report on Tuesday, August 1st.
On average, analysts expect that Zagg will report full-year sales of $108.63 million for the current financial year, with estimates ranging from $475.67 million to $486.4 million. For the next year, analysts expect that the business will post sales of $491.11 million per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Zagg.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, May 2nd. The specialty retailer reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. The company had revenue of $92.95 million during the quarter, compared to analysts’ expectations of $88.29 million. Zagg had a negative net margin of 1.77% and a positive return on equity of 12.02%.
A number of brokerages have commented on ZAGG. Zacks Investment Research lowered shares of Zagg from a “buy” rating to a “hold” rating in a research note on Wednesday. Roth Capital set a $8.00 price target on shares of Zagg and gave the company a “hold” rating in a research note on Wednesday, May 3rd. TheStreet upgraded shares of Zagg from a “d+” rating to a “c-” rating in a research note on Friday, May 5th. Finally, Wunderlich decreased their price target on shares of Zagg from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd.
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Hedge funds have recently made changes to their positions in the stock. American International Group Inc. raised its stake in shares of Zagg by 7.0% in the first quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock worth $122,000 after buying an additional 1,117 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of Zagg during the first quarter worth approximately $130,000. Brandes Investment Partners LP raised its stake in shares of Zagg by 86.9% in the first quarter. Brandes Investment Partners LP now owns 19,621 shares of the specialty retailer’s stock worth $141,000 after buying an additional 9,122 shares during the period. Strs Ohio raised its stake in shares of Zagg by 587.9% in the first quarter. Strs Ohio now owns 22,700 shares of the specialty retailer’s stock worth $163,000 after buying an additional 19,400 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Zagg during the fourth quarter worth approximately $170,000. Institutional investors and hedge funds own 82.83% of the company’s stock.
Zagg (NASDAQ:ZAGG) opened at 8.70 on Friday. The stock has a 50 day moving average of $7.22 and a 200 day moving average of $6.88. The firm’s market cap is $243.26 million. Zagg has a 12-month low of $4.71 and a 12-month high of $9.15.
Zagg Company Profile
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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