Zagg (ZAGG) Updates FY 2018 Earnings Guidance

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Zagg (NASDAQ:ZAGG) issued an update on its FY 2018 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.30-1.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.40. Zagg also updated its FY18 guidance to $1.30-1.40 EPS.

Shares of NASDAQ ZAGG traded down $1.11 during midday trading on Wednesday, reaching $11.14. 30,061 shares of the stock were exchanged, compared to its average volume of 305,394. The company has a market cap of $355.65 million, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.66. Zagg has a 52-week low of $10.90 and a 52-week high of $23.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 1.02.

Zagg (NASDAQ:ZAGG) last issued its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.10. The business had revenue of $141.10 million during the quarter, compared to the consensus estimate of $149.13 million. Zagg had a net margin of 5.18% and a return on equity of 30.17%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, analysts anticipate that Zagg will post 1.39 EPS for the current year.

A number of research firms recently issued reports on ZAGG. BidaskClub downgraded shares of Zagg from a buy rating to a hold rating in a report on Thursday, September 6th. ValuEngine downgraded shares of Zagg from a hold rating to a sell rating in a report on Monday, September 24th. Finally, B. Riley boosted their target price on shares of Zagg from $16.00 to $17.00 and gave the company a hold rating in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $19.50.

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

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About Zagg

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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