Plantronics, Inc. (PLT) Expected to Announce Quarterly Sales of $220.40 Million
Equities research analysts expect Plantronics, Inc. (NYSE:PLT) to report $220.40 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Plantronics’ earnings, with the lowest sales estimate coming in at $219.73 million and the highest estimate coming in at $221.00 million. Plantronics posted sales of $232.93 million during the same quarter last year, which suggests a negative year over year growth rate of 5.4%. The business is expected to report its next earnings report on Tuesday, January 30th.
On average, analysts expect that Plantronics will report full-year sales of $220.40 million for the current fiscal year, with estimates ranging from $837.11 million to $847.84 million. For the next year, analysts forecast that the firm will report sales of $854.87 million per share, with estimates ranging from $837.00 million to $865.58 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Plantronics.
A number of brokerages have weighed in on PLT. Zacks Investment Research upgraded shares of Plantronics from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. TheStreet upgraded shares of Plantronics from a “c+” rating to a “b” rating in a report on Friday, November 24th. Finally, Roth Capital set a $55.00 price objective on shares of Plantronics and gave the stock a “buy” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $57.33.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Monday, November 20th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, November 17th. Plantronics’s payout ratio is 24.69%.
In other news, Director John Hart sold 21,083 shares of the stock in a transaction that occurred on 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 in the company, valued at $583,100.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Maria Martinez sold 2,874 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.25, for a total transaction of $147,292.50. Following the sale, the director now owns 7,389 shares in the company, valued at approximately $378,686.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,145 shares of company stock worth $1,420,777. Corporate insiders own 3.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of PLT. Acrospire Investment Management LLC bought a new position in Plantronics during the second quarter valued at approximately $126,000. Riverhead Capital Management LLC lifted its position in Plantronics by 85.5% during the second quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock valued at $136,000 after purchasing an additional 1,197 shares during the period. Victory Capital Management Inc. lifted its position in Plantronics by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock valued at $173,000 after purchasing an additional 494 shares during the period. Neuberger Berman Group LLC lifted its position in Plantronics by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock valued at $201,000 after purchasing an additional 31 shares during the period. Finally, Airain ltd bought a new position in Plantronics during the second quarter valued at approximately $225,000. Institutional investors own 90.89% of the company’s stock.
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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