Turtle Beach Corporation (HEAR) Expected to Post Quarterly Sales of $86.60 Million

Analysts forecast that Turtle Beach Corporation (NASDAQ:HEAR) will report sales of $86.60 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Turtle Beach’s earnings. The lowest sales estimate is $85.60 million and the highest is $87.60 million. Turtle Beach reported sales of $82.20 million in the same quarter last year, which indicates a positive year over year growth rate of 5.4%. The company is expected to issue its next quarterly earnings report on Wednesday, March 14th.

According to Zacks, analysts expect that Turtle Beach will report full-year sales of $86.60 million for the current fiscal year, with estimates ranging from $157.00 million to $158.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $175.60 million per share, with estimates ranging from $175.00 million to $176.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Turtle Beach.

Turtle Beach (NASDAQ:HEAR) last issued its quarterly earnings results on Thursday, November 2nd. The communications equipment provider reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $35.98 million during the quarter, compared to analysts’ expectations of $39.85 million.

A number of equities analysts recently weighed in on the stock. ValuEngine downgraded shares of Turtle Beach from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research downgraded shares of Turtle Beach from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th.

In other Turtle Beach news, CEO Juergen M. Stark purchased 83,333 shares of Turtle Beach stock in a transaction on Thursday, November 16th. The shares were acquired at an average cost of $0.54 per share, for a total transaction of $44,999.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick J. Romano sold 1,200,000 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $0.73, for a total transaction of $876,000.00. Following the transaction, the insider now owns 3,433,489 shares in the company, valued at $2,506,446.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,378,666 shares of company stock worth $1,018,933. Insiders own 74.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Perkins Capital Management Inc. grew its holdings in shares of Turtle Beach by 19.0% in the third quarter. Perkins Capital Management Inc. now owns 626,359 shares of the communications equipment provider’s stock worth $520,000 after purchasing an additional 100,059 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Turtle Beach in the third quarter worth approximately $116,000. Virtu KCG Holdings LLC bought a new position in shares of Turtle Beach in the second quarter worth approximately $107,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of Turtle Beach in the second quarter worth approximately $3,310,000. Hedge funds and other institutional investors own 16.33% of the company’s stock.

Shares of Turtle Beach (HEAR) traded down $0.02 during trading hours on Friday, hitting $0.49. 117,600 shares of the company were exchanged, compared to its average volume of 242,170. The company has a current ratio of 1.06, a quick ratio of 0.42 and a debt-to-equity ratio of -0.74. Turtle Beach has a 52 week low of $0.47 and a 52 week high of $1.74.

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Turtle Beach Company Profile

Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.

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Earnings History and Estimates for Turtle Beach (NASDAQ:HEAR)

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