$39.85 Million in Sales Expected for Turtle Beach Corporation (HEAR) This Quarter
Wall Street brokerages expect that Turtle Beach Corporation (NASDAQ:HEAR) will post sales of $39.85 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Turtle Beach Corporation’s earnings, with the highest sales estimate coming in at $40.10 million and the lowest estimate coming in at $39.60 million. Turtle Beach Corporation posted sales of $38.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The business is scheduled to report its next quarterly earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Turtle Beach Corporation will report full year sales of $39.85 million for the current year, with estimates ranging from $158.60 million to $162.00 million. For the next financial year, analysts expect that the business will report sales of $175.60 million per share, with estimates ranging from $175.00 million to $176.20 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Turtle Beach Corporation.
Turtle Beach Corporation (NASDAQ:HEAR) last posted its earnings results on Thursday, August 10th. The communications equipment provider reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. The firm had revenue of $19.11 million for the quarter, compared to analyst estimates of $17.54 million. Turtle Beach Corporation had a negative return on equity of 830.32% and a negative net margin of 32.19%.
HEAR has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Turtle Beach Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. B. Riley reissued a “neutral” rating and set a $1.30 price objective on shares of Turtle Beach Corporation in a research report on Tuesday, July 18th. Finally, ValuEngine cut shares of Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.
An institutional investor recently bought a new position in Turtle Beach Corporation stock. Coldstream Capital Management Inc. bought a new position in Turtle Beach Corporation (NASDAQ:HEAR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,729,044 shares of the communications equipment provider’s stock, valued at approximately $3,310,000. Coldstream Capital Management Inc. owned about 9.58% of Turtle Beach Corporation at the end of the most recent reporting period. Institutional investors own 16.06% of the company’s stock.
Turtle Beach Corporation (HEAR) traded up 2.235% on Friday, reaching $0.869. The company’s stock had a trading volume of 100,179 shares. Turtle Beach Corporation has a 12 month low of $0.56 and a 12 month high of $2.00. The stock’s 50 day moving average price is $0.69 and its 200 day moving average price is $0.80. The company’s market cap is $42.92 million.
ILLEGAL ACTIVITY WARNING: This news story was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/09/23/39-85-million-in-sales-expected-for-turtle-beach-corporation-hear-this-quarter-2.html.
Turtle Beach Corporation Company Profile
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Turtle Beach Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turtle Beach Corporation and related companies with MarketBeat.com's FREE daily email newsletter.