$0.53 Earnings Per Share Expected for Plantronics, Inc. (NYSE:PLT) This Quarter
Analysts forecast that Plantronics, Inc. (NYSE:PLT) will announce earnings per share (EPS) of $0.53 for the current quarter, according to Zacks. Four analysts have issued estimates for Plantronics’ earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.55. Plantronics reported earnings of $0.60 per share during the same quarter last year, which would indicate a negative year over year growth rate of 11.7%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that Plantronics will report full year earnings of $2.40 per share for the current financial year, with EPS estimates ranging from $2.36 to $2.47. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Plantronics.
Plantronics (NYSE:PLT) last released its earnings results on Monday, May 1st. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.10. The company had revenue of $208.95 million for the quarter, compared to analyst estimates of $217.11 million. Plantronics had a return on equity of 23.25% and a net margin of 9.37%. Plantronics’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS.
A number of equities analysts have recently issued reports on the company. J P Morgan Chase & Co upgraded Plantronics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $59.00 to $63.00 in a report on Thursday, June 1st. Zacks Investment Research lowered Plantronics from a “hold” rating to a “sell” rating in a research note on Saturday, May 6th. Finally, BidaskClub lowered Plantronics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.67.
In related news, Director Marshall Mohr sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $53.14, for a total value of $159,420.00. Following the sale, the director now owns 22,384 shares in the company, valued at approximately $1,189,485.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian S. Dexheimer sold 3,189 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $56.03, for a total value of $178,679.67. Following the completion of the sale, the director now owns 18,334 shares in the company, valued at approximately $1,027,254.02. The disclosure for this sale can be found here. Insiders sold a total of 9,775 shares of company stock valued at $533,593 in the last three months. Corporate insiders own 3.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of PLT. BlackRock Inc. increased its stake in Plantronics by 23,139.5% in the first quarter. BlackRock Inc. now owns 3,456,643 shares of the technology company’s stock valued at $187,037,000 after buying an additional 3,441,769 shares during the last quarter. Norges Bank bought a new stake in Plantronics during the fourth quarter valued at $24,254,000. Nuveen Asset Management LLC increased its stake in Plantronics by 63.1% in the first quarter. Nuveen Asset Management LLC now owns 642,534 shares of the technology company’s stock valued at $34,768,000 after buying an additional 248,549 shares during the last quarter. Vanguard Group Inc. increased its stake in Plantronics by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,728,181 shares of the technology company’s stock valued at $147,622,000 after buying an additional 107,289 shares during the last quarter. Finally, State Street Corp increased its stake in Plantronics by 9.0% in the first quarter. State Street Corp now owns 1,182,582 shares of the technology company’s stock valued at $63,989,000 after buying an additional 97,473 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.
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Shares of Plantronics (NYSE PLT) opened at 53.86 on Thursday. Plantronics has a 1-year low of $44.33 and a 1-year high of $58.27. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 21.46 and a beta of 1.30. The company has a 50-day moving average price of $53.53 and a 200 day moving average price of $53.99.
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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