Analysts Expect Plantronics Inc (PLT) Will Announce Quarterly Sales of $206.22 Million
Wall Street analysts expect that Plantronics Inc (NYSE:PLT) will report $206.22 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Plantronics’ earnings, with the lowest sales estimate coming in at $205.07 million and the highest estimate coming in at $207.36 million. Plantronics reported sales of $208.95 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The business is scheduled to issue its next quarterly earnings report on Monday, May 7th.
On average, analysts expect that Plantronics will report full year sales of $206.22 million for the current fiscal year, with estimates ranging from $845.83 million to $848.12 million. For the next financial year, analysts forecast that the company will post sales of $872.87 million per share, with estimates ranging from $865.90 million to $879.83 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Plantronics.
Plantronics (NYSE:PLT) last announced its earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.23. The firm had revenue of $226.50 million for the quarter, compared to analyst estimates of $220.17 million. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS.
Shares of Plantronics (NYSE PLT) opened at $56.18 on Thursday. The firm has a market cap of $1,834.37, a PE ratio of 268.85, a PEG ratio of 1.47 and a beta of 1.37. The company has a debt-to-equity ratio of 1.50, a quick ratio of 6.16 and a current ratio of 6.76. Plantronics has a 52 week low of $41.28 and a 52 week high of $60.49.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, February 16th. Plantronics’s payout ratio is currently 285.73%.
In related news, Director John Hart sold 21,083 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the sale, the director now owns 11,094 shares of the company’s stock, valued at $583,100.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph B. Burton sold 5,117 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $57.51, for a total transaction of $294,278.67. Following the sale, the chief executive officer now directly owns 89,685 shares in the company, valued at approximately $5,157,784.35. The disclosure for this sale can be found here. Insiders have sold 29,851 shares of company stock worth $1,615,252 in the last three months. 3.20% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Swiss National Bank boosted its stake in Plantronics by 2.9% during the fourth quarter. Swiss National Bank now owns 56,400 shares of the technology company’s stock worth $2,841,000 after acquiring an additional 1,600 shares in the last quarter. California Public Employees Retirement System raised its holdings in Plantronics by 6.0% in the fourth quarter. California Public Employees Retirement System now owns 126,857 shares of the technology company’s stock worth $6,391,000 after buying an additional 7,136 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Plantronics in the fourth quarter worth about $583,000. ING Groep NV purchased a new position in Plantronics in the fourth quarter worth about $251,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Plantronics in the fourth quarter worth about $195,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.
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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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