Brokerages Anticipate Plantronics Inc (PLT) Will Announce Quarterly Sales of $220.40 Million
Equities research analysts predict that Plantronics Inc (NYSE:PLT) will announce $220.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Plantronics’ earnings. The highest sales estimate is $221.00 million and the lowest is $219.73 million. Plantronics reported sales of $232.93 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The firm is scheduled to report its next earnings results after the market closes on Tuesday, January 30th.
On average, analysts expect that Plantronics will report full year sales of $220.40 million for the current fiscal year, with estimates ranging from $837.11 million to $847.84 million. For the next year, analysts anticipate that the firm will post sales of $854.87 million per share, with estimates ranging from $837.00 million to $865.58 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Plantronics.
A number of research analysts have recently weighed in on PLT shares. Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Roth Capital set a $55.00 price target on Plantronics and gave the stock a “buy” rating in a report on Wednesday, November 1st. TheStreet upgraded Plantronics from a “c+” rating to a “b” rating in a report on Friday, November 24th. Finally, Sidoti upgraded Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Plantronics currently has an average rating of “Hold” and a consensus price target of $58.00.
The company also recently declared 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. This represents a $0.60 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, November 17th. Plantronics’s dividend payout ratio (DPR) is currently 24.69%.
In other news, Director John Hart sold 21,083 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total value 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 approximately $583,100.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph B. Burton sold 3,188 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $51.87, for a total value of $165,361.56. Following the completion of the sale, the chief executive officer now directly owns 92,373 shares of the company’s stock, valued at approximately $4,791,387.51. The disclosure for this sale can be found here. In the last three months, insiders sold 27,145 shares of company stock valued at $1,420,777. 3.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new position in Plantronics during the 2nd quarter valued at approximately $126,000. Riverhead Capital Management LLC raised its position in Plantronics by 85.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock valued at $136,000 after purchasing an additional 1,197 shares during the last quarter. Victory Capital Management Inc. raised its position in Plantronics by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock valued at $173,000 after purchasing an additional 494 shares during the last quarter. Neuberger Berman Group LLC raised its position in Plantronics by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock valued at $201,000 after purchasing an additional 31 shares during the last quarter. Finally, Airain ltd bought a new position in Plantronics during the 2nd quarter valued at approximately $225,000. 90.89% of the stock is owned by institutional investors.
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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