Plantronics Inc (NYSE:PLT) Expected to Post Quarterly Sales of $372.14 Million

Analysts expect that Plantronics Inc (NYSE:PLT) will announce sales of $372.14 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Plantronics’ earnings, with the lowest sales estimate coming in at $367.48 million and the highest estimate coming in at $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 business is expected to report its next quarterly earnings report on Tuesday, November 3rd.

On average, analysts expect that Plantronics will report full year sales of $1.49 billion for the current financial year, with estimates ranging from $1.46 billion to $1.51 billion. For the next year, analysts expect that the business will report sales of $1.57 billion, with estimates ranging from $1.51 billion to $1.60 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Plantronics.

Plantronics (NYSE:PLT) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.67. Plantronics had a negative net margin of 52.48% and a positive return on equity of 17.30%. The firm had revenue of $365.00 million for the quarter, compared to the consensus estimate of $353.03 million. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The firm’s revenue was down 18.5% on a year-over-year basis.

A number of research analysts have commented on PLT shares. ValuEngine downgraded shares of Plantronics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Sidoti upgraded shares of Plantronics from a “neutral” rating to a “buy” rating in a research report on Thursday, September 3rd. Zacks Investment Research raised shares of Plantronics from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, August 5th. Northland Securities started coverage on shares of Plantronics in a research report on Thursday, May 28th. They set a “hold” rating and a $22.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Plantronics from an “underweight” rating to a “neutral” rating and set a $19.00 price objective on the stock in a research note on Tuesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.40.

PLT stock traded up $0.31 on Friday, hitting $12.35. 489,178 shares of the company were exchanged, compared to its average volume of 1,159,940. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.36 and a quick ratio of 1.01. Plantronics has a twelve month low of $4.60 and a twelve month high of $42.44. The business’s fifty day moving average is $15.95 and its two-hundred day moving average is $13.73. The stock has a market capitalization of $503.19 million, a price-to-earnings ratio of -0.59 and a beta of 1.93.

In other news, major shareholder Private Holdings I. L. Triangle sold 4,065,666 shares of the firm’s stock in a transaction dated 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 can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Several large investors have recently made changes to their positions in PLT. Verus Capital Partners LLC bought a new stake in shares of Plantronics in the first quarter valued at $25,000. Tower Research Capital LLC TRC bought a new position in shares of Plantronics in the 1st quarter worth approximately $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 valued at $46,000 after buying an additional 2,663 shares in the last quarter. 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 valued at $55,000 after buying an additional 4,094 shares in the last quarter. Finally, Globeflex Capital L P boosted its stake in Plantronics by 141.7% during the 1st quarter. Globeflex Capital L P now owns 7,039 shares of the technology company’s stock valued at $71,000 after purchasing an additional 4,127 shares during the last quarter.

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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