Brokerages Anticipate Zagg Inc (ZAGG) Will Announce Quarterly Sales of $148.05 Million

Equities analysts expect that Zagg Inc (NASDAQ:ZAGG) will announce sales of $148.05 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Zagg’s earnings. The lowest sales estimate is $139.93 million and the highest is $153.47 million. Zagg posted sales of $134.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.2%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Zagg will report full year sales of $562.92 million for the current fiscal year, with estimates ranging from $560.02 million to $567.89 million. For the next fiscal year, analysts anticipate that the company will report sales of $599.94 million, with estimates ranging from $579.11 million to $622.39 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Zagg.

Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, July 31st. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.06). Zagg had a net margin of 5.18% and a return on equity of 30.17%. The business had revenue of $118.57 million during the quarter, compared to analyst estimates of $116.44 million.

Several analysts recently weighed in on the company. BidaskClub cut Zagg from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine cut Zagg from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Finally, B. Riley lifted their price target on Zagg from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Zagg has a consensus rating of “Hold” and a consensus target price of $19.43.

In related news, President Brian Stech sold 10,000 shares of Zagg stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the sale, the president now directly owns 198,864 shares of the company’s stock, valued at approximately $2,917,334.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Zagg by 6.8% during the 1st quarter. Royal Bank of Canada now owns 2,892,274 shares of the specialty retailer’s stock worth $35,285,000 after acquiring an additional 183,207 shares during the period. BlackRock Inc. increased its stake in Zagg by 25.2% during the 2nd quarter. BlackRock Inc. now owns 2,285,277 shares of the specialty retailer’s stock worth $39,535,000 after acquiring an additional 459,802 shares during the period. Baird Financial Group Inc. increased its stake in Zagg by 26.1% during the 2nd quarter. Baird Financial Group Inc. now owns 603,571 shares of the specialty retailer’s stock worth $10,442,000 after acquiring an additional 125,035 shares during the period. Tieton Capital Management LLC increased its stake in Zagg by 34.1% during the 2nd quarter. Tieton Capital Management LLC now owns 453,667 shares of the specialty retailer’s stock worth $7,848,000 after acquiring an additional 115,260 shares during the period. Finally, Northern Trust Corp increased its stake in Zagg by 8.2% during the 2nd quarter. Northern Trust Corp now owns 406,625 shares of the specialty retailer’s stock worth $7,034,000 after acquiring an additional 30,715 shares during the period. 85.69% of the stock is owned by institutional investors and hedge funds.

ZAGG opened at $14.02 on Monday. Zagg has a 12-month low of $10.90 and a 12-month high of $23.70. The company has a market capitalization of $415.34 million, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 0.15.

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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Earnings History and Estimates for Zagg (NASDAQ:ZAGG)

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