ZAGG Inc (ZAGG) Expected to Announce Quarterly Sales of $130.74 Million
Equities research analysts predict that ZAGG Inc (NASDAQ:ZAGG) will post sales of $130.74 million for the current fiscal quarter, Zacks Investment Research 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 indicates a positive year over year growth rate of 4.9%. The business is expected to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that ZAGG will report full year sales of $130.74 million for the current year, with estimates ranging from $489.19 million to $490.20 million. For the next fiscal year, analysts anticipate that the business will post sales of $512.43 million per share, with estimates ranging from $497.56 million to $523.13 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow ZAGG.
ZAGG (NASDAQ:ZAGG) last issued its quarterly earnings results on Tuesday, August 1st. The specialty retailer reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. ZAGG had a positive return on equity of 5.34% and a negative net margin of 3.12%. The firm had revenue of $115.20 million during the quarter, compared to analysts’ expectations of $107.81 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis.
Several brokerages recently issued reports on ZAGG. Zacks Investment Research cut ZAGG from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. BidaskClub raised ZAGG from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Northland Securities lifted their price objective on ZAGG from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, September 13th. Finally, Roth Capital set a $9.00 price objective on ZAGG and gave the stock a “hold” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. ZAGG currently has a consensus rating of “Buy” and a consensus target price of $11.25.
Shares of ZAGG (NASDAQ ZAGG) traded down 1.402% during mid-day trading on Wednesday, hitting $15.825. The company had a trading volume of 242,753 shares. The firm has a 50-day moving average price of $13.79 and a 200 day moving average price of $9.72. The firm’s market capitalization is $442.55 million. ZAGG has a 12 month low of $5.15 and a 12 month high of $17.20.
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Hedge funds have recently modified their holdings of the stock. Gotham Asset Management LLC acquired a new position in shares of ZAGG in the second quarter worth $100,000. American International Group Inc. raised its holdings in shares of ZAGG by 7.0% in the first quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock worth $122,000 after acquiring an additional 1,117 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of ZAGG by 18.2% in the second quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock worth $153,000 after acquiring an additional 2,730 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of ZAGG in the second quarter worth $169,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of ZAGG by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 24,142 shares of the specialty retailer’s stock worth $174,000 after acquiring an additional 91 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.
ZAGG Company Profile
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.
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