Brokerages Anticipate Plantronics Inc (NYSE:PLT) Will Post Quarterly Sales of $372.14 Million

Wall Street analysts predict that Plantronics Inc (NYSE:PLT) will report sales of $372.14 million for the current quarter, according to Zacks. Two analysts have made estimates for Plantronics’ earnings. The lowest sales estimate is $367.48 million and the highest is $376.79 million. Plantronics reported sales of $461.71 million during the same quarter last year, which indicates a negative year-over-year growth rate of 19.4%. The firm is expected to report its next quarterly earnings results on Tuesday, November 3rd.

According to Zacks, analysts expect that Plantronics will report full-year sales of $1.49 billion for the current fiscal year, with estimates ranging from $1.46 billion to $1.51 billion. For the next year, analysts forecast that the firm will post sales of $1.57 billion, with estimates ranging from $1.51 billion to $1.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Plantronics.

Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of ($0.34) by $0.67. The firm had revenue of $365.00 million during the quarter, compared to analyst estimates of $353.03 million. Plantronics had a positive return on equity of 17.30% and a negative net margin of 52.48%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.32 EPS.

Several equities analysts have commented on the stock. ValuEngine downgraded shares of Plantronics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating in a report on Thursday, September 3rd. Northland Securities started coverage on shares of Plantronics in a research note on Thursday, May 28th. They set a “hold” rating and a $22.00 price target on the stock. Cowen lowered their price target on shares of Plantronics from $24.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Finally, Zacks Investment Research upgraded shares of Plantronics from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $18.40.

In other Plantronics news, major shareholder Private Holdings I. L. Triangle sold 4,065,666 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $13.25, for a total transaction of $53,870,074.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Verus Capital Partners LLC bought a new position in Plantronics during the 1st quarter worth $25,000. Tower Research Capital LLC TRC bought a new position in Plantronics during the 1st quarter worth $38,000. Aigen Investment Management LP increased its position in Plantronics by 138.0% during the 1st quarter. Aigen Investment Management LP now owns 4,593 shares of the technology company’s stock worth $46,000 after buying an additional 2,663 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new position in Plantronics during the 2nd quarter worth $78,000. Finally, PNC Financial Services Group Inc. increased its position in Plantronics by 284.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,535 shares of the technology company’s stock worth $55,000 after buying an additional 4,094 shares during the period.

PLT traded up $0.31 during trading on Friday, reaching $12.35. The company’s stock had a trading volume of 489,178 shares, compared to its average volume of 1,159,940. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 2.76. The firm has a fifty day simple moving average of $15.95 and a two-hundred day simple moving average of $13.73. Plantronics has a 1 year low of $4.60 and a 1 year high of $42.44. The company has a market cap of $503.19 million, a price-to-earnings ratio of -0.59 and a beta of 1.93.

Plantronics Company Profile

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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