Analysts expect that ZAGG Inc (NASDAQ:ZAGG) will report $109.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for ZAGG’s earnings. The lowest sales estimate is $107.63 million and the highest is $113.00 million. ZAGG reported sales of $99.83 million during the same quarter last year, which indicates a positive year over year growth rate of 9.8%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, August 1st.
On average, analysts expect that ZAGG will report full-year sales of $109.57 million for the current fiscal year, with estimates ranging from $475.67 million to $486.40 million. For the next year, analysts anticipate that the company will report sales of $491.11 million per share. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for ZAGG.
ZAGG (NASDAQ:ZAGG) last issued its earnings results on Tuesday, May 2nd. The specialty retailer reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. ZAGG had a positive return on equity of 4.81% and a negative net margin of 4.26%. The business had revenue of $92.95 million for the quarter, compared to analyst estimates of $88.29 million.
Several brokerages have issued reports on ZAGG. Northland Securities set a $10.00 price objective on ZAGG and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research cut ZAGG from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Roth Capital set a $9.00 price objective on ZAGG and gave the company a “hold” rating in a research note on Saturday, June 17th. Wunderlich restated a “buy” rating and set a $10.00 price objective on shares of ZAGG in a research note on Friday, June 9th. Finally, TheStreet upgraded ZAGG from a “d+” rating to a “c-” rating in a research note on Friday, May 5th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $9.63.
Hedge funds have recently made changes to their positions in the company. Strs Ohio boosted its stake in shares of ZAGG by 170.9% in the second quarter. Strs Ohio now owns 61,500 shares of the specialty retailer’s stock worth $531,000 after buying an additional 38,800 shares during the last quarter. Perkins Capital Management Inc. bought a new stake in shares of ZAGG during the second quarter worth $602,000. Acadian Asset Management LLC boosted its stake in shares of ZAGG by 610.3% in the second quarter. Acadian Asset Management LLC now owns 32,141 shares of the specialty retailer’s stock worth $278,000 after buying an additional 27,616 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of ZAGG by 196.0% in the first quarter. Goldman Sachs Group Inc. now owns 70,159 shares of the specialty retailer’s stock worth $505,000 after buying an additional 46,458 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of ZAGG during the first quarter worth $195,000. Institutional investors and hedge funds own 78.76% of the company’s stock.
ZAGG (NASDAQ ZAGG) opened at 8.55 on Friday. The firm’s market cap is $239.07 million. ZAGG has a 52-week low of $5.15 and a 52-week high of $9.15. The firm’s 50-day moving average price is $8.59 and its 200 day moving average price is $7.51.
ZAGG Company Profile
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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