Brokerages predict that Plantronics, Inc. (NYSE:PLT) will announce sales of $205.19 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Plantronics’ earnings, with the lowest sales estimate coming in at $203.84 million and the highest estimate coming in at $206.94 million. Plantronics reported sales of $216.18 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5.1%. The company is expected to announce its next quarterly earnings report on Tuesday, November 7th.

On average, analysts expect that Plantronics will report full-year sales of $205.19 million for the current fiscal year, with estimates ranging from $831.56 million to $868.27 million. For the next fiscal year, analysts anticipate that the business will report sales of $867.94 million per share, with estimates ranging from $842.87 million to $899.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Plantronics.

Plantronics (NYSE:PLT) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The company had revenue of $203.90 million for the quarter, compared to analyst estimates of $217.11 million. Plantronics had a return on equity of 21.31% and a net margin of 9.40%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS.

Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. TheStreet downgraded shares of Plantronics from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. J P Morgan Chase & Co downgraded shares of Plantronics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $63.00 to $60.00 in a research report on Friday, July 28th. Northland Securities set a $57.00 target price on shares of Plantronics and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of Plantronics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $60.00.

A number of hedge funds have recently added to or reduced their stakes in PLT. UBS Asset Management Americas Inc. boosted its holdings in Plantronics by 34.5% during the first quarter. UBS Asset Management Americas Inc. now owns 15,066 shares of the technology company’s stock valued at $815,000 after acquiring an additional 3,864 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Plantronics by 2.5% during the first quarter. Parametric Portfolio Associates LLC now owns 69,839 shares of the technology company’s stock valued at $3,779,000 after acquiring an additional 1,731 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Plantronics by 8.2% during the first quarter. Envestnet Asset Management Inc. now owns 4,096 shares of the technology company’s stock valued at $222,000 after acquiring an additional 312 shares during the period. SG Americas Securities LLC boosted its holdings in Plantronics by 99.2% during the first quarter. SG Americas Securities LLC now owns 6,403 shares of the technology company’s stock valued at $346,000 after acquiring an additional 3,188 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Plantronics by 119.7% during the first quarter. Victory Capital Management Inc. now owns 2,810 shares of the technology company’s stock valued at $152,000 after acquiring an additional 1,531 shares during the period. Institutional investors own 91.20% of the company’s stock.

Plantronics (NYSE PLT) opened at 45.71 on Tuesday. The firm’s 50 day moving average price is $44.06 and its 200-day moving average price is $49.25. The firm has a market cap of $1.49 billion, a PE ratio of 18.58 and a beta of 1.28. Plantronics has a 52 week low of $41.28 and a 52 week high of $58.27.

Plantronics announced that its board has initiated a share buyback plan on Thursday, July 27th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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About Plantronics

Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.

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Earnings History and Estimates for Plantronics (NYSE:PLT)

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