Brokerages expect Zagg Inc (NASDAQ:ZAGG) to announce sales of $116.44 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Zagg’s earnings, with the lowest sales estimate coming in at $109.07 million and the highest estimate coming in at $124.47 million. Zagg posted sales of $115.23 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The company is expected to issue its next quarterly earnings report on Tuesday, August 7th.
According to Zacks, analysts expect that Zagg will report full-year sales of $562.16 million for the current fiscal year, with estimates ranging from $552.11 million to $567.97 million. For the next fiscal year, analysts forecast that the firm will report sales of $590.43 million per share, with estimates ranging from $569.14 million to $606.13 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Zagg.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, May 8th. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.28. Zagg had a net margin of 5.25% and a return on equity of 31.62%. The business had revenue of $112.10 million for the quarter, compared to analysts’ expectations of $96.62 million. During the same period in the previous year, the company earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year.
Several research analysts recently weighed in on the stock. LADENBURG THALM/SH SH restated a “buy” rating and set a $24.00 price target on shares of Zagg in a report on Wednesday, May 9th. ValuEngine upgraded shares of Zagg from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. Zacks Investment Research cut shares of Zagg from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. BidaskClub upgraded shares of Zagg from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, DA Davidson assumed coverage on shares of Zagg in a report on Thursday, March 15th. They set a “buy” rating and a $20.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Zagg has a consensus rating of “Buy” and an average price target of $19.29.
Zagg stock traded up $0.30 during midday trading on Friday, hitting $17.65. 588,083 shares of the stock were exchanged, compared to its average volume of 526,062. Zagg has a 52-week low of $8.05 and a 52-week high of $23.70. The stock has a market cap of $471.87 million, a PE ratio of 18.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 1.67.
In other Zagg news, President Brian Stech sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $15.30, for a total value of $306,000.00. Following the transaction, the president now directly owns 235,435 shares in the company, valued at $3,602,155.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Cheryl A. Larabee sold 18,594 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $14.49, for a total transaction of $269,427.06. Following the completion of the transaction, the director now owns 104,361 shares in the company, valued at $1,512,190.89. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in Zagg by 6.8% in the first quarter. Royal Bank of Canada now owns 2,892,274 shares of the specialty retailer’s stock valued at $35,285,000 after acquiring an additional 183,207 shares during the last quarter. Guggenheim Capital LLC purchased a new position in Zagg in the first quarter valued at about $180,000. Element Capital Management LLC purchased a new position in Zagg in the first quarter valued at about $497,000. Cornercap Investment Counsel Inc. purchased a new position in Zagg in the first quarter valued at about $537,000. Finally, Baird Financial Group Inc. lifted its stake in shares of Zagg by 1.8% during the 1st quarter. Baird Financial Group Inc. now owns 478,536 shares of the specialty retailer’s stock valued at $5,838,000 after buying an additional 8,673 shares in the last quarter. Hedge funds and other institutional investors own 85.93% of the company’s stock.
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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