$163.93 Million in Sales Expected for Zagg Inc (NASDAQ:ZAGG) This Quarter

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Wall Street brokerages forecast that Zagg Inc (NASDAQ:ZAGG) will announce $163.93 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Zagg’s earnings. The lowest sales estimate is $143.75 million and the highest is $184.10 million. Zagg reported sales of $141.09 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.2%. The company is expected to issue its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Zagg will report full-year sales of $578.33 million for the current fiscal year, with estimates ranging from $535.93 million to $620.74 million. For the next fiscal year, analysts expect that the business will post sales of $641.17 million, with estimates ranging from $571.26 million to $711.09 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Zagg.

Zagg (NASDAQ:ZAGG) last posted its earnings results on Tuesday, August 6th. The specialty retailer reported ($0.09) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.09). Zagg had a net margin of 1.86% and a return on equity of 9.82%. The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $105.41 million. During the same period in the previous year, the firm posted $0.11 EPS. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year.

A number of equities research analysts have recently commented on the stock. ValuEngine raised shares of Zagg from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Craig Hallum reduced their price objective on shares of Zagg from $17.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Zacks Investment Research raised shares of Zagg from a “strong sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Zagg currently has a consensus rating of “Hold” and a consensus price target of $13.00.

ZAGG traded down $0.07 during trading on Friday, reaching $6.38. 1,786,083 shares of the company’s stock were exchanged, compared to its average volume of 557,510. Zagg has a one year low of $5.26 and a one year high of $13.77. The company has a current ratio of 1.86, a quick ratio of 0.99 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $187.57 million, a PE ratio of 4.43, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The firm has a fifty day moving average price of $6.24 and a two-hundred day moving average price of $6.94.

Large investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in shares of Zagg by 3.9% in the 2nd 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 last quarter. AWM Investment Company Inc. bought a new position in Zagg during the second quarter worth $411,000. Ancora Advisors LLC boosted its stake in Zagg by 387.5% during the second quarter. Ancora Advisors LLC now owns 110,688 shares of the specialty retailer’s stock worth $770,000 after acquiring an additional 87,984 shares in the last quarter. Putnam Investments LLC bought a new position in Zagg during the second quarter worth $4,112,000. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Zagg by 56.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 41,290 shares of the specialty retailer’s stock worth $287,000 after acquiring an additional 14,950 shares in the last quarter. 81.40% of the stock is currently owned by institutional investors.

Zagg Company Profile

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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Earnings History and Estimates for Zagg (NASDAQ:ZAGG)

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