$427.29 Million in Sales Expected for Plantronics, Inc. (NYSE:POLY) This Quarter

Wall Street analysts expect that Plantronics, Inc. (NYSE:POLY) will report sales of $427.29 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Plantronics’ earnings. The highest sales estimate is $432.48 million and the lowest is $422.10 million. Plantronics posted sales of $484.69 million during the same quarter last year, which would indicate a negative year over year growth rate of 11.8%. The company is scheduled to announce its next earnings results on Thursday, February 3rd.

According to Zacks, analysts expect that Plantronics will report full year sales of $1.70 billion for the current year, with estimates ranging from $1.70 billion to $1.71 billion. For the next year, analysts forecast that the firm will post sales of $1.76 billion, with estimates ranging from $1.72 billion to $1.78 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Plantronics.

Plantronics (NYSE:POLY) last posted its earnings results on Thursday, October 28th. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.52. Plantronics had a negative return on equity of 178.02% and a net margin of 5.03%. The business had revenue of $419.02 million during the quarter, compared to the consensus estimate of $436.18 million. During the same period in the previous year, the business earned $0.75 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis.

Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Plantronics from a “hold” rating to a “strong sell” rating and set a $25.00 target price for the company. in a report on Wednesday, November 3rd. Evercore ISI restated a “hold” rating and issued a $30.00 price target on shares of Plantronics in a research report on Friday, October 8th. Finally, Morgan Stanley dropped their price target on Plantronics from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, July 30th.

Shares of Plantronics stock traded up $0.94 on Thursday, hitting $27.47. The stock had a trading volume of 204,129 shares, compared to its average volume of 503,377. Plantronics has a 52-week low of $22.69 and a 52-week high of $50.89. The company has a current ratio of 1.50, a quick ratio of 1.07 and a debt-to-equity ratio of 670.92. The firm has a market cap of $1.17 billion, a PE ratio of 13.34 and a beta of 1.84. The business has a 50 day moving average price of $27.81.

In other Plantronics news, CEO David M. Shull bought 3,500 shares of the company’s stock in a transaction on Tuesday, September 7th. The shares were bought at an average price of $30.00 per share, for a total transaction of $105,000.00. Following the transaction, the chief executive officer now owns 181,094 shares of the company’s stock, valued at approximately $5,432,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Warren Schlichting bought 2,000 shares of the company’s stock in a transaction on Monday, September 13th. The shares were acquired at an average price of $28.94 per share, for a total transaction of $57,880.00. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

About Plantronics

Plantronics, Inc engages in the design, manufacture, and distribution of headsets, voice, video, and content sharing solutions. It operates through the following segments: Products and Services. The Products segment includes the firm’s headsets, voice, and video product lines. The Services segment includes the maintenance support on hardware devices, as well as professional, managed, and cloud services and solutions.

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