Equities analysts predict that Zagg Inc (NASDAQ:ZAGG) will post $129.41 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Zagg’s earnings, with the lowest sales estimate coming in at $120.00 million and the highest estimate coming in at $140.23 million. Zagg reported sales of $124.66 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 7th.

According to Zacks, analysts expect that Zagg will report full-year sales of $129.41 million for the current financial year, with estimates ranging from $486.40 million to $489.59 million. For the next financial year, analysts forecast that the firm will post sales of $497.56 million per share. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Zagg.

Zagg (NASDAQ:ZAGG) last announced its earnings results on Tuesday, August 1st. The specialty retailer reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Zagg had a net margin of 2.95% and a return on equity of 12.10%. The business had revenue of $115.20 million during the quarter, compared to the consensus estimate of $107.81 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis.

Several equities research analysts have recently weighed in on ZAGG shares. Roth Capital set a $8.00 price target on shares of Zagg and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. Wunderlich lowered their price target on shares of Zagg from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, May 3rd. TheStreet raised shares of Zagg from a “d+” rating to a “c-” rating in a research report on Friday, May 5th. Zacks Investment Research cut shares of Zagg from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, Northland Securities set a $10.00 price target on shares of Zagg and gave the stock a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $9.75.

Zagg (ZAGG) opened at 11.15 on Wednesday. Zagg has a 52 week low of $5.15 and a 52 week high of $11.30. The firm’s 50 day moving average is $8.96 and its 200-day moving average is $7.76. The company’s market cap is $311.80 million.

Several large investors have recently made changes to their positions in ZAGG. State Street Corp boosted its stake in Zagg by 3.8% in the fourth quarter. State Street Corp now owns 397,744 shares of the specialty retailer’s stock worth $2,822,000 after buying an additional 14,538 shares during the last quarter. Strs Ohio boosted its stake in 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 last quarter. Wesbanco Bank Inc. boosted its stake in Zagg by 35.1% in the first quarter. Wesbanco Bank Inc. now owns 76,988 shares of the specialty retailer’s stock worth $554,000 after buying an additional 20,019 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Zagg by 0.4% in the first quarter. Wells Fargo & Company MN now owns 28,525 shares of the specialty retailer’s stock worth $205,000 after buying an additional 100 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Zagg by 9.5% in the first quarter. Algert Global LLC now owns 157,794 shares of the specialty retailer’s stock worth $1,136,000 after buying an additional 13,660 shares during the last quarter. 77.52% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/08/16/zagg-inc-zagg-expected-to-announce-quarterly-sales-of-129-41-million.html.

About Zagg

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.

Get a free copy of the Zacks research report on Zagg (ZAGG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Zagg Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zagg Inc and related companies with MarketBeat.com's FREE daily email newsletter.