Equities analysts forecast that Logitech International SA (NASDAQ:LOGI) will announce earnings of $0.39 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Logitech International’s earnings. Logitech International also reported earnings of $0.39 per share in the same quarter last year. The firm is expected to report its next quarterly earnings report on Monday, July 27th.
On average, analysts expect that Logitech International will report full-year earnings of $2.26 per share for the current financial year, with EPS estimates ranging from $2.15 to $2.36. For the next fiscal year, analysts anticipate that the company will post earnings of $2.52 per share, with EPS estimates ranging from $2.45 to $2.59. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Logitech International.
Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, May 11th. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. Logitech International had a net margin of 15.11% and a return on equity of 25.03%. The business had revenue of $709.25 million during the quarter, compared to the consensus estimate of $660.99 million.
LOGI has been the subject of a number of recent analyst reports. Wedbush downgraded shares of Logitech International from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $63.00 to $65.00 in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Citigroup lifted their price objective on shares of Logitech International from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Maxim Group reaffirmed a “hold” rating on shares of Logitech International in a report on Monday, March 9th. ValuEngine raised shares of Logitech International from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, DA Davidson lifted their price objective on shares of Logitech International from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $55.00.
In other Logitech International news, CEO Bracken Darrell sold 145,719 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $57.46, for a total value of $8,373,013.74. Following the sale, the chief executive officer now directly owns 826,908 shares in the company, valued at $47,514,133.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Prakash Arunkundrum sold 10,059 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $59.26, for a total value of $596,096.34. The disclosure for this sale can be found here. Insiders sold 351,941 shares of company stock worth $18,354,799 over the last quarter. 1.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of LOGI. Parallel Advisors LLC bought a new stake in Logitech International in the first quarter valued at $34,000. Valeo Financial Advisors LLC bought a new stake in shares of Logitech International during the first quarter valued at about $37,000. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Logitech International during the fourth quarter valued at about $52,000. RMR Wealth Builders bought a new stake in shares of Logitech International during the fourth quarter valued at about $59,000. Finally, Verus Capital Partners LLC bought a new stake in shares of Logitech International during the fourth quarter valued at about $75,000. Institutional investors own 36.25% of the company’s stock.
Shares of LOGI stock traded up $1.34 during mid-day trading on Tuesday, reaching $65.22. 426,598 shares of the company were exchanged, compared to its average volume of 435,746. Logitech International has a fifty-two week low of $31.37 and a fifty-two week high of $65.37. The company has a market capitalization of $10.89 billion, a P/E ratio of 24.61 and a beta of 1.04. The business’s 50 day simple moving average is $57.99 and its 200 day simple moving average is $47.89.
Logitech International announced that its board has initiated a share repurchase plan on Wednesday, May 27th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
About Logitech International
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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