Wall Street brokerages expect that Plantronics, Inc. (NYSE:PLT) will post sales of $205.19 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Plantronics’ earnings. The highest sales estimate is $206.94 million and the lowest is $203.84 million. Plantronics reported sales of $216.18 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.1%. The firm is scheduled to issue its next earnings results on Tuesday, November 7th.

On average, analysts expect that Plantronics will report full year sales of $205.19 million for the current financial year, with estimates ranging from $831.56 million to $868.27 million. For the next fiscal year, analysts expect that the business will post sales of $867.94 million per share, with estimates ranging from $842.87 million to $899.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Plantronics.

Plantronics (NYSE:PLT) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The company had revenue of $203.90 million during the quarter, compared to the consensus estimate of $217.11 million. Plantronics had a net margin of 9.40% and a return on equity of 21.31%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 EPS.

PLT has been the topic of several recent research reports. J P Morgan Chase & Co downgraded Plantronics from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $63.00 to $60.00 in a report on Friday, July 28th. BidaskClub downgraded Plantronics from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Zacks Investment Research raised Plantronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 4th. TheStreet downgraded Plantronics from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Finally, Northland Securities set a $57.00 target price on Plantronics and gave the stock a “buy” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $60.00.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in Plantronics during the 2nd quarter worth about $951,000. WINTON GROUP Ltd lifted its stake in shares of Plantronics by 55.9% in the 2nd quarter. WINTON GROUP Ltd now owns 16,469 shares of the technology company’s stock valued at $861,000 after purchasing an additional 5,904 shares during the period. Koch Industries Inc. lifted its stake in shares of Plantronics by 6,554.8% in the 2nd quarter. Koch Industries Inc. now owns 248,691 shares of the technology company’s stock valued at $244,000 after purchasing an additional 244,954 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Plantronics by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 73,430 shares of the technology company’s stock valued at $3,841,000 after purchasing an additional 924 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Plantronics by 9.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 282,324 shares of the technology company’s stock valued at $14,768,000 after purchasing an additional 24,094 shares during the period. 91.19% of the stock is currently owned by hedge funds and other institutional investors.

Plantronics (NYSE:PLT) traded down 0.22% during midday trading on Friday, reaching $44.60. The company had a trading volume of 11,321 shares. The stock has a 50-day moving average price of $43.03 and a 200 day moving average price of $50.01. Plantronics has a 12-month low of $41.28 and a 12-month high of $58.27. The company has a market capitalization of $1.45 billion, a PE ratio of 18.13 and a beta of 1.28.

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.34%. The ex-dividend date was Wednesday, August 16th. Plantronics’s payout ratio is presently 24.29%.

Plantronics declared that its Board of Directors has approved a stock buyback program on Thursday, July 27th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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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Earnings History and Estimates for Plantronics (NYSE:PLT)

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