Equities analysts predict that Zagg Inc (NASDAQ:ZAGG) will report $148.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Zagg’s earnings, with the highest sales estimate coming in at $153.47 million and the lowest estimate coming in at $139.93 million. Zagg posted sales of $134.40 million during the same quarter last year, which suggests a positive year over year growth rate of 10.2%. The business is expected to report its next quarterly earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Zagg will report full-year sales of $562.92 million for the current fiscal year, with estimates ranging from $560.02 million to $567.89 million. For the next year, analysts expect that the firm will post sales of $599.94 million, with estimates ranging from $579.11 million to $622.39 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Zagg.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, July 31st. The specialty retailer reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). The firm had revenue of $118.57 million during the quarter, compared to the consensus estimate of $116.44 million. Zagg had a return on equity of 30.17% and a net margin of 5.18%.
Several research analysts recently issued reports on ZAGG shares. BidaskClub lowered shares of Zagg from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. ValuEngine lowered shares of Zagg from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, B. Riley upped their target price on shares of Zagg from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Zagg presently has an average rating of “Hold” and a consensus price target of $19.43.
Shares of Zagg stock traded down $0.05 during trading on Monday, hitting $13.29. The stock had a trading volume of 265,395 shares, compared to its average volume of 450,784. The stock has a market cap of $415.34 million, a P/E ratio of 13.70, a PEG ratio of 1.41 and a beta of 1.49. Zagg has a 12 month low of $10.90 and a 12 month high of $23.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.66.
In related news, President Brian Stech sold 10,000 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the transaction, the president now directly owns 198,864 shares in the company, valued at $2,917,334.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Reliance Trust Co. of Delaware purchased a new stake in Zagg during the second quarter valued at about $180,000. US Bancorp DE purchased a new stake in shares of Zagg during the first quarter worth about $156,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Zagg during the first quarter worth about $150,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Zagg during the second quarter worth about $233,000. Finally, Bank of Montreal Can purchased a new stake in shares of Zagg during the second quarter worth about $242,000. Institutional investors and hedge funds own 85.69% of the company’s stock.
Zagg Company Profile
ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.
Featured Story: Treasury Bonds
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zagg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zagg and related companies with MarketBeat.com's FREE daily email newsletter.