Zebra Technologies Corporation (ZBRA) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS
Zebra Technologies Corporation (NASDAQ:ZBRA) posted its quarterly earnings results on Tuesday. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.17, Bloomberg Earnings reports. Zebra Technologies Corporation had a positive return on equity of 37.96% and a negative net margin of 2.98%. The business had revenue of $897 million for the quarter, compared to the consensus estimate of $876.90 million. During the same period in the prior year, the business earned $1.34 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Zebra Technologies Corporation updated its Q3 guidance to $1.65-1.85 EPS.
Zebra Technologies Corporation (ZBRA) opened at 97.25 on Tuesday. Zebra Technologies Corporation has a one year low of $56.20 and a one year high of $109.30. The company’s market capitalization is $5.13 billion. The firm’s 50-day moving average price is $101.81 and its 200 day moving average price is $94.57.
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A number of research firms recently weighed in on ZBRA. ValuEngine raised Zebra Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Zebra Technologies Corporation from a “sell” rating to a “buy” rating and set a $119.00 price target on the stock in a research note on Friday, June 9th. Morgan Stanley downgraded Zebra Technologies Corporation from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $95.00 to $100.00 in a research note on Wednesday, May 31st. They noted that the move was a valuation call. Needham & Company LLC reissued a “buy” rating and issued a $107.00 price objective on shares of Zebra Technologies Corporation in a research note on Monday, May 22nd. Finally, BidaskClub downgraded Zebra Technologies Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Zebra Technologies Corporation has an average rating of “Hold” and a consensus target price of $94.82.
In other news, Director Richard L. Keyser sold 6,132 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $106.26, for a total transaction of $651,586.32. Following the completion of the sale, the director now owns 23,632 shares of the company’s stock, valued at approximately $2,511,136.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Hugh K. Gagnier sold 9,388 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $100.42, for a total transaction of $942,742.96. Following the sale, the senior vice president now directly owns 48,460 shares of the company’s stock, valued at approximately $4,866,353.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,602 shares of company stock valued at $2,819,641. 2.50% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Zebra Technologies Corporation by 15,105.8% in the first quarter. BlackRock Inc. now owns 4,142,827 shares of the industrial products company’s stock valued at $378,032,000 after buying an additional 4,115,582 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Zebra Technologies Corporation by 118.7% in the second quarter. Bank of New York Mellon Corp now owns 1,485,758 shares of the industrial products company’s stock valued at $149,349,000 after buying an additional 806,297 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Zebra Technologies Corporation during the first quarter valued at $41,048,000. Marshall Wace North America L.P. purchased a new position in shares of Zebra Technologies Corporation during the first quarter valued at $41,048,000. Finally, Renaissance Technologies LLC increased its position in shares of Zebra Technologies Corporation by 483.6% in the first quarter. Renaissance Technologies LLC now owns 272,731 shares of the industrial products company’s stock valued at $24,887,000 after buying an additional 226,000 shares in the last quarter. 94.49% of the stock is owned by hedge funds and other institutional investors.
About Zebra Technologies Corporation
Zebra Technologies Corporation designs, manufactures and sells a range of automatic identification and data capture (AIDC) products. The Company’s AIDC products include mobile computers, barcode scanners, radio frequency identification (RFID) readers, wireless local area network (WLAN) products, specialty printers for barcode labeling and personal identification, real-time location systems (RTLS), related accessories and supplies, such as self-adhesive labels and other consumables, and utilities and application software.
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