Zagg Inc (NASDAQ:ZAGG) – B. Riley lowered their Q4 2019 earnings estimates for shares of Zagg in a report issued on Monday, August 5th. B. Riley analyst J. Van. Sinderen now anticipates that the specialty retailer will earn $1.08 per share for the quarter, down from their prior forecast of $1.09.
A number of other analysts have also issued reports on ZAGG. Craig Hallum cut their target price on Zagg from $17.50 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday. Zacks Investment Research lowered Zagg from a “hold” rating to a “sell” rating in a research report on Friday. Finally, BidaskClub lowered Zagg from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $13.00.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, August 6th. The specialty retailer reported ($0.09) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $105.41 million. Zagg had a net margin of 1.86% and a return on equity of 9.78%. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP raised its position in Zagg by 3.9% in the second quarter. First Trust Advisors LP now owns 52,721 shares of the specialty retailer’s stock valued at $367,000 after purchasing an additional 1,968 shares during the period. Teton Advisors Inc. grew its stake in shares of Zagg by 2.3% in the second quarter. Teton Advisors Inc. now owns 90,630 shares of the specialty retailer’s stock worth $631,000 after acquiring an additional 2,030 shares in the last quarter. Cadence Capital Management LLC grew its stake in shares of Zagg by 1.8% in the first quarter. Cadence Capital Management LLC now owns 210,046 shares of the specialty retailer’s stock worth $1,905,000 after acquiring an additional 3,707 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Zagg by 34.5% in the first quarter. Victory Capital Management Inc. now owns 18,800 shares of the specialty retailer’s stock worth $171,000 after acquiring an additional 4,819 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Zagg by 9,137.7% in the first quarter. BNP Paribas Arbitrage SA now owns 5,635 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 5,574 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.
ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. The company offers screen protection products; protective cases to protect device-specific mobile devices and tablets; power management products for tablets, smartphones, smartwatches, cameras, and other electronic mobile devices; power stations, wireless chargers, car and wall chargers, portable power products, and power wallets; earbuds, headphones, and speakers; and device specific keyboards and device agnostic keyboards under the ZAGG, InvisibleShield, mophie, IFROGZ, BRAVEN, Gear4, and HALO brands.
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