Zagg (NASDAQ:ZAGG) Releases Earnings Results, Meets Expectations

Zagg (NASDAQ:ZAGG) issued its earnings results on Tuesday. The specialty retailer reported ($0.09) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.09), Bloomberg Earnings reports. The business had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $105.41 million. Zagg had a net margin of 3.51% and a return on equity of 13.95%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. Zagg updated its FY 2019 guidance to $0.75-1.00 EPS and its FY19 guidance to $0.75-1.00 EPS.

Zagg stock traded up $0.91 during midday trading on Tuesday, hitting $6.94. 1,985,936 shares of the stock were exchanged, compared to its average volume of 467,799. Zagg has a fifty-two week low of $5.43 and a fifty-two week high of $16.70. The firm has a market cap of $175.23 million, a PE ratio of 4.82, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. The stock’s 50-day moving average price is $6.89. 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 has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Zagg from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 11th. BidaskClub cut shares of Zagg from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. The company presently has a consensus rating of “Sell” and an average target price of $13.50.

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its position in Zagg by 9,137.7% during the first quarter. BNP Paribas Arbitrage SA now owns 5,635 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 5,574 shares during the last quarter. Meeder Asset Management Inc. increased its position in Zagg by 3,643.5% during the first quarter. Meeder Asset Management Inc. now owns 7,824 shares of the specialty retailer’s stock worth $70,000 after purchasing an additional 7,615 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Zagg by 378.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,629 shares of the specialty retailer’s stock worth $94,000 after purchasing an additional 7,615 shares during the last quarter. Royce & Associates LP increased its position in Zagg by 71.3% during the first quarter. Royce & Associates LP now owns 14,900 shares of the specialty retailer’s stock worth $135,000 after purchasing an additional 6,200 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Zagg by 34.5% during the first quarter. Victory Capital Management Inc. now owns 18,800 shares of the specialty retailer’s stock worth $171,000 after purchasing an additional 4,819 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

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.

Read More: Sell-Side Analysts

Earnings History for Zagg (NASDAQ:ZAGG)

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