$39.85 Million in Sales Expected for Turtle Beach Corporation (HEAR) This Quarter
Wall Street brokerages expect Turtle Beach Corporation (NASDAQ:HEAR) to report sales of $39.85 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Turtle Beach Corporation’s earnings, with the lowest sales estimate coming in at $39.60 million and the highest estimate coming in at $40.10 million. Turtle Beach Corporation posted sales of $38.38 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The firm is expected to issue its next 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 fiscal year, with estimates ranging from $158.60 million to $162.00 million. For the next year, analysts forecast that the business will post sales of $175.60 million per share, with estimates ranging from $175.00 million to $176.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Turtle Beach Corporation.
Turtle Beach Corporation (NASDAQ:HEAR) last released its quarterly earnings results on Thursday, August 10th. The communications equipment provider reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $19.11 million during the quarter, compared to analysts’ expectations of $17.54 million.
Several research analysts have recently weighed in on HEAR shares. ValuEngine cut Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research cut Turtle Beach Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, B. Riley restated a “neutral” rating and issued a $1.30 price target on shares of Turtle Beach Corporation in a research note on Sunday, July 23rd.
A hedge fund recently bought a new stake in Turtle Beach Corporation stock. Coldstream Capital Management Inc. purchased a new position in Turtle Beach Corporation (NASDAQ:HEAR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,729,044 shares of the communications equipment provider’s stock, valued at approximately $3,310,000. Coldstream Capital Management Inc. owned approximately 9.58% of Turtle Beach Corporation as of its most recent SEC filing. 16.06% of the stock is owned by institutional investors and hedge funds.
Shares of Turtle Beach Corporation (NASDAQ:HEAR) opened at 0.80 on Wednesday. The stock’s market capitalization is $39.51 million. 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 $0.76 and its 200 day moving average price is $0.78.
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.
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