Zagg Inc (ZAGG) Expected to Post Quarterly Sales of $116.44 Million

Analysts predict that Zagg Inc (NASDAQ:ZAGG) will announce sales of $116.44 million for the current quarter, according to Zacks. Three analysts have made estimates for Zagg’s earnings. The lowest sales estimate is $109.07 million and the highest is $124.47 million. Zagg posted sales of $115.23 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.1%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Zagg will report full-year sales of $562.16 million for the current financial year, with estimates ranging from $552.11 million to $567.97 million. For the next financial year, analysts anticipate that the company will post sales of $590.43 million per share, with estimates ranging from $569.14 million to $606.13 million. Zacks’ sales averages are an average based on a survey of research firms that cover Zagg.

Zagg (NASDAQ:ZAGG) last issued its quarterly earnings results on Tuesday, May 8th. The specialty retailer reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.28. The firm had revenue of $112.10 million during the quarter, compared to the consensus estimate of $96.62 million. Zagg had a return on equity of 31.62% and a net margin of 5.25%. Zagg’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.22) earnings per share.



ZAGG has been the subject of a number of analyst reports. Craig Hallum reissued a “buy” rating and issued a $19.00 price target (down previously from $24.00) on shares of Zagg in a report on Thursday, March 8th. BidaskClub downgraded Zagg from a “hold” rating to a “sell” rating in a report on Friday, April 27th. B. Riley downgraded Zagg from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $16.00 in a report on Thursday, March 8th. DA Davidson initiated coverage on Zagg in a report on Thursday, March 15th. They issued a “buy” rating and a $20.00 price target for the company. Finally, ValuEngine downgraded Zagg from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $19.29.

Zagg traded up $0.30, reaching $17.65, on Friday, according to MarketBeat.com. The company’s stock had a trading volume of 588,083 shares, compared to its average volume of 526,062. The company has a market capitalization of $471.87 million, a P/E ratio of 18.20, a P/E/G ratio of 2.65 and a beta of 1.33. Zagg has a 1 year low of $8.05 and a 1 year high of $23.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 1.67.

In other Zagg news, President Brian Stech sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $15.30, for a total transaction of $306,000.00. Following the transaction, the president now owns 235,435 shares of the company’s stock, valued at approximately $3,602,155.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cheryl A. Larabee sold 18,594 shares of the stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $14.49, for a total value of $269,427.06. Following the transaction, the director now directly owns 104,361 shares in the company, valued at approximately $1,512,190.89. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in Zagg by 6.8% during the 1st quarter. Royal Bank of Canada now owns 2,892,274 shares of the specialty retailer’s stock worth $35,285,000 after buying an additional 183,207 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Zagg by 0.7% in the 1st quarter. BlackRock Inc. now owns 1,825,475 shares of the specialty retailer’s stock worth $22,270,000 after purchasing an additional 13,177 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Zagg by 93.0% in the 1st quarter. Wasatch Advisors Inc. now owns 1,464,899 shares of the specialty retailer’s stock worth $17,872,000 after purchasing an additional 705,844 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Zagg in the 4th quarter worth approximately $14,151,000. Finally, Bogle Investment Management L P DE lifted its holdings in shares of Zagg by 41.7% in the 4th quarter. Bogle Investment Management L P DE now owns 591,683 shares of the specialty retailer’s stock worth $10,916,000 after purchasing an additional 174,230 shares during the last quarter. 85.93% 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. 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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