$151.28 Million in Sales Expected for Zagg Inc (ZAGG) This Quarter
Analysts expect that Zagg Inc (NASDAQ:ZAGG) will announce $151.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Zagg’s earnings. The highest sales estimate is $160.43 million and the lowest is $139.93 million. Zagg reported sales of $134.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The company is expected to report its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Zagg will report full-year sales of $562.88 million for the current fiscal year, with estimates ranging from $560.02 million to $567.77 million. For the next year, analysts anticipate that the company will post sales of $599.76 million per share, with estimates ranging from $579.11 million to $622.39 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Zagg.
Zagg (NASDAQ:ZAGG) last issued its earnings results on Tuesday, July 31st. The specialty retailer reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.06). The firm had revenue of $118.57 million during the quarter, compared to analyst estimates of $116.44 million. Zagg had a net margin of 5.18% and a return on equity of 30.17%.
In other Zagg news, President Brian Stech sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $15.30, for a total transaction of $306,000.00. Following the sale, the president now owns 235,435 shares of the company’s stock, valued at $3,602,155.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.80% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Reliance Trust Co. of Delaware acquired a new stake in Zagg during the second quarter worth approximately $180,000. US Bancorp DE acquired a new stake in Zagg during the first quarter worth approximately $156,000. Financial Gravity Wealth Inc. acquired a new stake in Zagg during the first quarter worth approximately $150,000. Campbell & CO Investment Adviser LLC acquired a new stake in Zagg during the second quarter worth approximately $233,000. Finally, Bank of Montreal Can acquired a new stake in Zagg during the second quarter worth approximately $242,000. 88.25% of the stock is currently owned by institutional investors.
Shares of NASDAQ:ZAGG opened at $15.35 on Friday. The company has a market capitalization of $419.57 million, a P/E ratio of 15.67, a PEG ratio of 1.42 and a beta of 1.44. Zagg has a fifty-two week low of $10.20 and a fifty-two week 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.
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.
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