Analysts Expect Zagg Inc (NASDAQ:ZAGG) Will Post Quarterly Sales of $105.02 Million

Wall Street analysts expect Zagg Inc (NASDAQ:ZAGG) to announce $105.02 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Zagg’s earnings, with estimates ranging from $104.41 million to $105.54 million. Zagg posted sales of $118.57 million in the same quarter last year, which suggests a negative year-over-year growth rate of 11.4%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, August 6th.

According to Zacks, analysts expect that Zagg will report full year sales of $614.94 million for the current financial year, with estimates ranging from $611.86 million to $620.74 million. For the next financial year, analysts expect that the business will post sales of $662.55 million, with estimates ranging from $627.89 million to $711.09 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Zagg.

Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, May 7th. The specialty retailer reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.09). Zagg had a return on equity of 13.95% and a net margin of 3.51%. The firm had revenue of $78.80 million for the quarter, compared to the consensus estimate of $78.75 million. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue was down 29.7% compared to the same quarter last year.

Several research analysts recently weighed in on the stock. BidaskClub lowered shares of Zagg from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 16th. Zacks Investment Research lowered shares of Zagg from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 11th. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The company presently has a consensus rating of “Sell” and a consensus target price of $13.50.

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Zagg by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,896,725 shares of the specialty retailer’s stock worth $18,549,000 after acquiring an additional 11,077 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in Zagg by 28.8% in the first quarter. Pacific Ridge Capital Partners LLC now owns 785,320 shares of the specialty retailer’s stock valued at $7,123,000 after buying an additional 175,722 shares in the last quarter. Tieton Capital Management LLC lifted its stake in Zagg by 18.0% in the first quarter. Tieton Capital Management LLC now owns 534,170 shares of the specialty retailer’s stock valued at $4,845,000 after buying an additional 81,363 shares in the last quarter. Signia Capital Management LLC lifted its stake in Zagg by 103.6% in the first quarter. Signia Capital Management LLC now owns 369,542 shares of the specialty retailer’s stock valued at $3,351,000 after buying an additional 188,051 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Zagg by 20.2% in the fourth quarter. American Century Companies Inc. now owns 367,943 shares of the specialty retailer’s stock valued at $3,598,000 after buying an additional 61,904 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Zagg stock traded up $0.83 during midday trading on Friday, hitting $6.86. 65,931 shares of the stock were exchanged, compared to its average volume of 412,025. The firm has a fifty day moving average price of $6.92. Zagg has a 52 week low of $5.43 and a 52 week high of $16.70. The stock has a market capitalization of $175.23 million, a PE ratio of 4.83, a PEG ratio of 0.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.01 and a quick ratio of 1.08.

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.

Recommended Story: Day Trading – Risk Worth the Reward?

Get a free copy of the Zacks research report on Zagg (ZAGG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Zagg (NASDAQ:ZAGG)

Receive News & Ratings for Zagg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zagg and related companies with MarketBeat.com's FREE daily email newsletter.