Zacks: Brokerages Expect Plantronics Inc (PLT) Will Announce Earnings of $0.82 Per Share

Wall Street brokerages expect Plantronics Inc (NYSE:PLT) to report earnings per share of $0.82 for the current quarter, Zacks reports. Two analysts have provided estimates for Plantronics’ earnings, with the lowest EPS estimate coming in at $0.80 and the highest estimate coming in at $0.83. Plantronics reported earnings per share of $0.81 in the same quarter last year, which suggests a positive year-over-year growth rate of 1.2%. The firm is expected to issue its next quarterly earnings report on Monday, May 7th.

According to Zacks, analysts expect that Plantronics will report full-year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.31 to $3.35. For the next year, analysts forecast that the business will post earnings of $3.51 per share, with EPS estimates ranging from $3.50 to $3.52. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Plantronics.

Plantronics (NYSE:PLT) last issued its earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.23. Plantronics had a return on equity of 22.22% and a net margin of 1.03%. The firm had revenue of $226.50 million for the quarter, compared to analysts’ expectations of $220.17 million. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year.

A number of research analysts recently weighed in on PLT shares. Sidoti upgraded Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, January 2nd. TheStreet upgraded Plantronics from a “c+” rating to a “b” rating in a report on Friday, November 24th. Roth Capital set a $55.00 target price on Plantronics and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Northland Securities set a $60.00 target price on Plantronics and gave the company a “buy” rating in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $60.00.

In other Plantronics news, CEO Joseph B. Burton sold 5,117 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $57.51, for a total transaction of $294,278.67. Following the transaction, the chief executive officer now owns 89,685 shares in the company, valued at $5,157,784.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Shantanu Sarkar sold 1,151 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $57.82, for a total value of $66,550.82. Following the transaction, the insider now owns 17,564 shares in the company, valued at approximately $1,015,550.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,851 shares of company stock worth $1,615,252. 3.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Plantronics by 1.3% during the second quarter. Vanguard Group Inc. now owns 2,762,404 shares of the technology company’s stock worth $144,502,000 after purchasing an additional 34,223 shares in the last quarter. State Street Corp lifted its stake in shares of Plantronics by 3.2% in the second quarter. State Street Corp now owns 1,221,003 shares of the technology company’s stock worth $63,875,000 after acquiring an additional 38,421 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Plantronics by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 858,695 shares of the technology company’s stock worth $37,972,000 after acquiring an additional 18,134 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Plantronics by 0.9% in the second quarter. Northern Trust Corp now owns 680,739 shares of the technology company’s stock worth $35,609,000 after acquiring an additional 5,984 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of Plantronics by 2.6% in the fourth quarter. LSV Asset Management now owns 595,194 shares of the technology company’s stock worth $29,985,000 after acquiring an additional 14,900 shares in the last quarter. Institutional investors own 90.66% of the company’s stock.

Shares of Plantronics (PLT) traded up $0.85 during trading on Tuesday, reaching $56.31. The company had a trading volume of 249,250 shares, compared to its average volume of 188,882. Plantronics has a 52-week low of $41.28 and a 52-week high of $60.49. The firm has a market capitalization of $1,850.00, a PE ratio of 255.95, a P/E/G ratio of 1.52 and a beta of 1.36. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, February 16th. Plantronics’s dividend payout ratio is presently 272.73%.

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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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