Turtle Beach Corporation (HEAR) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Turtle Beach Corporation (NASDAQ:HEAR) posted its quarterly earnings data on Thursday. The communications equipment provider reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04, Bloomberg Earnings reports. The company had revenue of $35.98 million for the quarter, compared to analyst estimates of $39.85 million.
Turtle Beach Corporation (HEAR) traded down $0.04 during midday trading on Friday, reaching $0.67. 397,993 shares of the company were exchanged, compared to its average volume of 184,040. The company has a current ratio of 1.14, a quick ratio of 0.49 and a debt-to-equity ratio of -0.75.
In related news, insider Frederick J. Romano sold 56,792 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $0.80, for a total transaction of $45,433.60. Following the completion of the transaction, the insider now directly owns 4,702,725 shares in the company, valued at $3,762,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederick J. Romano sold 1,200,000 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $0.73, for a total transaction of $876,000.00. Following the transaction, the insider now owns 3,433,489 shares of the company’s stock, valued at $2,506,446.97. The disclosure for this sale can be found here. Insiders have sold 1,378,666 shares of company stock valued at $1,018,933 over the last 90 days. 74.00% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on HEAR shares. Zacks Investment Research downgraded shares of Turtle Beach Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. B. Riley restated a “neutral” rating and set a $1.30 target price on shares of Turtle Beach Corporation in a research report on Sunday, July 23rd. Finally, ValuEngine downgraded shares of Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.
About Turtle Beach Corporation
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
Receive News & Ratings for Turtle Beach Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turtle Beach Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.