Zacks: Analysts Anticipate Plantronics Inc (PLT) to Post $0.79 EPS
Equities research analysts expect Plantronics Inc (NYSE:PLT) to post earnings per share of $0.79 for the current quarter, according to Zacks. Four analysts have issued estimates for Plantronics’ earnings, with the highest EPS estimate coming in at $0.81 and the lowest estimate coming in at $0.76. Plantronics also posted earnings of $0.79 per share in the same quarter last year. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, January 30th.
According to Zacks, analysts expect that Plantronics will report full year earnings of $3.09 per share for the current year, with EPS estimates ranging from $3.04 to $3.14. For the next year, analysts expect that the business will post earnings of $3.41 per share, with EPS estimates ranging from $3.33 to $3.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Plantronics.
Several research firms have recently weighed in on PLT. Sidoti upgraded Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday. TheStreet upgraded Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Roth Capital set a $55.00 target price on Plantronics and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $58.00.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Monday, November 20th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, November 17th. This represents a $0.60 annualized dividend and a yield of 1.15%. Plantronics’s dividend payout ratio (DPR) is 24.59%.
In other Plantronics news, Director John Hart sold 21,083 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the completion of the sale, the director now owns 11,094 shares of the company’s stock, valued at $583,100.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Maria Martinez sold 2,874 shares of Plantronics stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $51.25, for a total value of $147,292.50. Following the completion of the sale, the director now directly owns 7,389 shares of the company’s stock, valued at $378,686.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,145 shares of company stock valued at $1,420,777. 3.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PLT. Acrospire Investment Management LLC acquired a new stake in shares of Plantronics in the second quarter valued at $126,000. Riverhead Capital Management LLC grew its stake in shares of Plantronics by 85.5% in the second quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock valued at $136,000 after buying an additional 1,197 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Plantronics by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock valued at $173,000 after buying an additional 494 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Plantronics by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock valued at $201,000 after buying an additional 31 shares in the last quarter. Finally, Airain ltd purchased a new position in Plantronics in the second quarter valued at $225,000. 90.89% of the stock is owned by institutional investors and hedge funds.
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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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