Plantronics Inc (PLT) Expected to Post Quarterly Sales of $206.22 Million

Wall Street analysts predict that Plantronics Inc (NYSE:PLT) will report sales of $206.22 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Plantronics’ earnings, with the highest sales estimate coming in at $207.36 million and the lowest estimate coming in at $205.07 million. Plantronics reported sales of $208.95 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The business is scheduled to announce its next quarterly earnings results on Monday, May 7th.

According to Zacks, analysts expect that Plantronics will report full year sales of $206.22 million for the current year, with estimates ranging from $845.83 million to $848.12 million. For the next fiscal year, analysts expect that the firm will post sales of $872.87 million per share, with estimates ranging from $865.90 million to $879.83 million. Zacks’ sales averages are an average based on a survey of research firms 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 (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.23. The business had revenue of $226.50 million during the quarter, compared to analysts’ expectations of $220.17 million. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share.

Several research analysts have issued reports on the stock. TheStreet cut shares of Plantronics from a “b” rating to a “c” rating in a report on Friday, February 2nd. Sidoti cut shares of Plantronics from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Thursday, February 1st. Roth Capital boosted their price objective on shares of Plantronics from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Northland Securities set a $60.00 price objective on shares of Plantronics and gave the company a “buy” rating in a report on Friday, January 12th. One 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 company has an average rating of “Hold” and a consensus price target of $60.00.

Plantronics (PLT) opened at $56.18 on Thursday. 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 stock has a market cap of $1,834.37, a PE ratio of 268.85, a price-to-earnings-growth ratio of 1.47 and a beta of 1.37. Plantronics has a twelve month low of $41.28 and a twelve month high of $60.49.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.07%. Plantronics’s payout ratio is 285.73%.

In other news, Director Brian S. Dexheimer sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $58.52, for a total transaction of $146,300.00. Following the completion of the transaction, the director now directly owns 18,002 shares of the company’s stock, valued at $1,053,477.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shantanu Sarkar sold 1,151 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $57.82, for a total transaction of $66,550.82. Following the transaction, the insider now directly owns 17,564 shares of the company’s stock, valued at $1,015,550.48. The disclosure for this sale can be found here. Insiders have sold 29,851 shares of company stock valued at $1,615,252 over the last three months. 3.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLT. American International Group Inc. grew its position in Plantronics by 3.1% during the third quarter. American International Group Inc. now owns 91,089 shares of the technology company’s stock valued at $4,028,000 after buying an additional 2,775 shares during the period. Vanguard Group Inc. grew its position in Plantronics by 1.3% during the second quarter. Vanguard Group Inc. now owns 2,762,404 shares of the technology company’s stock valued at $144,502,000 after buying an additional 34,223 shares during the period. Bessemer Group Inc. grew its position in Plantronics by 25.9% during the third quarter. Bessemer Group Inc. now owns 38,400 shares of the technology company’s stock valued at $1,698,000 after buying an additional 7,900 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Plantronics by 9.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 282,324 shares of the technology company’s stock valued at $14,768,000 after buying an additional 24,094 shares during the period. Finally, Dean Investment Associates LLC bought a new stake in Plantronics during the third quarter valued at approximately $2,968,000. 90.66% of the stock is owned by hedge funds and other institutional investors.

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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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