Plantronics Inc (PLT) Expected to Post Earnings of $0.79 Per Share

Equities research analysts forecast that Plantronics Inc (NYSE:PLT) will post earnings of $0.79 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Plantronics’ earnings, with estimates ranging from $0.76 to $0.81. Plantronics also reported earnings per share of $0.79 in the same quarter last year. The company is scheduled to issue its next earnings report 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 financial year, analysts expect that the firm will report earnings of $3.41 per share, with EPS estimates ranging from $3.33 to $3.50. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Plantronics.

Plantronics (NYSE:PLT) last announced its quarterly earnings results on Tuesday, October 31st. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Plantronics had a return on equity of 20.12% and a net margin of 9.41%.

PLT has been the subject of a number of research analyst reports. Northland Securities set a $60.00 price target on Plantronics and gave the company a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Roth Capital set a $55.00 price target on Plantronics and gave the company a “buy” rating in a research report on Wednesday, November 1st. TheStreet upgraded Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Finally, Sidoti upgraded Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, January 2nd. One investment 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’s stock. The company has a consensus rating of “Hold” and an average target price of $58.75.

In related news, CEO Joseph B. Burton sold 3,188 shares of Plantronics stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $51.87, for a total transaction of $165,361.56. Following the completion of the sale, the chief executive officer now owns 92,373 shares in the company, valued at approximately $4,791,387.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Hart sold 21,083 shares of Plantronics 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 sale, the director now owns 11,094 shares of the company’s stock, valued at approximately $583,100.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,145 shares of company stock valued at $1,420,777. 3.20% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of PLT. Schwab Charles Investment Management Inc. boosted its stake in Plantronics by 7.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 247,567 shares of the technology company’s stock worth $12,951,000 after buying an additional 17,818 shares during the last quarter. Legal & General Group Plc boosted its stake in Plantronics by 29.0% in the 2nd quarter. Legal & General Group Plc now owns 27,209 shares of the technology company’s stock worth $1,423,000 after buying an additional 6,122 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Plantronics by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock worth $173,000 after buying an additional 494 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Plantronics by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock worth $201,000 after buying an additional 31 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Plantronics by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,880 shares of the technology company’s stock worth $255,000 after buying an additional 33 shares during the last quarter. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Plantronics (PLT) traded up $0.45 during mid-day trading on Friday, hitting $55.07. The stock had a trading volume of 112,256 shares, compared to its average volume of 127,020. Plantronics has a twelve month low of $41.28 and a twelve month high of $58.27. The stock has a market capitalization of $1,806.07, a PE ratio of 22.66, a P/E/G ratio of 1.66 and a beta of 1.31. The company has a current ratio of 6.44, a quick ratio of 5.90 and a debt-to-equity ratio of 1.27.

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Plantronics Company Profile

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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