Plantronics (NYSE:PLT) Shares Down 4.7%

Shares of Plantronics Inc (NYSE:PLT) traded down 4.7% on Thursday . The stock traded as low as $27.20 and last traded at $26.33, 24,043 shares traded hands during trading. A decline of 95% from the average session volume of 515,128 shares. The stock had previously closed at $27.62.

Several equities research analysts recently weighed in on the company. Cowen set a $61.00 target price on Plantronics and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI assumed coverage on Plantronics in a research note on Thursday, June 27th. They set an “outperform” rating and a $50.00 target price for the company. Zacks Investment Research cut Plantronics from a “hold” rating to a “sell” rating in a research note on Tuesday. Sidoti set a $83.00 target price on Plantronics and gave the stock a “buy” rating in a research note on Wednesday, June 19th. Finally, Northland Securities restated a “buy” rating and set a $85.00 target price on shares of Plantronics in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.80.

The company has a market cap of $1.08 billion, a price-to-earnings ratio of 6.61 and a beta of 1.44. The firm has a 50-day simple moving average of $35.29 and a 200 day simple moving average of $44.06. The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 2.45.

Plantronics (NYSE:PLT) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $447.77 million for the quarter, compared to analyst estimates of $490.49 million. Plantronics had a positive return on equity of 21.22% and a negative net margin of 10.25%. The firm’s revenue was up 102.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, research analysts expect that Plantronics Inc will post 4.57 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, August 19th. Plantronics’s dividend payout ratio (DPR) is 15.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Plantronics by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 928,874 shares of the technology company’s stock worth $30,745,000 after buying an additional 59,013 shares during the period. GMT Capital Corp acquired a new position in shares of Plantronics in the first quarter valued at approximately $1,697,000. Pacific Ridge Capital Partners LLC acquired a new position in shares of Plantronics in the first quarter valued at approximately $1,727,000. Hanson & Doremus Investment Management increased its holdings in shares of Plantronics by 6.1% in the first quarter. Hanson & Doremus Investment Management now owns 16,125 shares of the technology company’s stock valued at $744,000 after purchasing an additional 923 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Plantronics by 1,119.4% in the first quarter. BNP Paribas Arbitrage SA now owns 6,987 shares of the technology company’s stock valued at $322,000 after purchasing an additional 6,414 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Plantronics Company Profile (NYSE:PLT)

Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.

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