Brokerages Expect Plantronics Inc (PLT) to Announce $0.82 Earnings Per Share
Wall Street brokerages forecast that Plantronics Inc (NYSE:PLT) will announce earnings of $0.82 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Plantronics’ earnings. The lowest EPS estimate is $0.80 and the highest is $0.83. Plantronics reported earnings per share of $0.81 in the same quarter last year, which would suggest a positive year over year growth rate of 1.2%. The business is expected to issue its next earnings report on Monday, May 7th.
On average, analysts expect that Plantronics will report full-year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.31 to $3.35. For the next year, analysts expect that the company will post earnings of $3.51 per share, with EPS estimates ranging from $3.50 to $3.52. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Plantronics.
Plantronics (NYSE:PLT) last announced its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.23. The company had revenue of $226.50 million for the quarter, compared to analysts’ expectations of $220.17 million. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share.
Plantronics (PLT) traded up $0.85 on Tuesday, reaching $56.31. 249,250 shares of the company traded hands, compared to its average volume of 188,882. The company has a market cap of $1,850.00, a PE ratio of 255.95, a P/E/G ratio of 1.52 and a beta of 1.36. Plantronics has a 1-year low of $41.28 and a 1-year high of $60.49. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Tuesday, February 20th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.60 annualized dividend and a yield of 1.07%. Plantronics’s payout ratio is currently 272.73%.
In other Plantronics news, Director Brian S. Dexheimer sold 2,500 shares of Plantronics stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $58.52, for a total value of $146,300.00. Following the sale, the director now directly owns 18,002 shares in the company, valued at approximately $1,053,477.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Hart sold 21,083 shares of Plantronics stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the completion of the sale, the director now owns 11,094 shares in the company, valued at $583,100.64. The disclosure for this sale can be found here. Insiders sold a total of 29,851 shares of company stock worth $1,615,252 over the last quarter. Company insiders own 3.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PLT. C M Bidwell & Associates Ltd. acquired a new position in shares of Plantronics during the 4th quarter worth about $195,000. M&T Bank Corp increased its stake in shares of Plantronics by 13.9% during the 2nd quarter. M&T Bank Corp now owns 4,484 shares of the technology company’s stock worth $235,000 after purchasing an additional 546 shares during the last quarter. OxFORD Asset Management LLP acquired a new position in shares of Plantronics during the 2nd quarter worth about $243,000. Koch Industries Inc. increased its stake in shares of Plantronics by 6,554.8% during the 2nd quarter. Koch Industries Inc. now owns 248,691 shares of the technology company’s stock worth $244,000 after purchasing an additional 244,954 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Plantronics by 5.0% during the 2nd quarter. Amalgamated Bank now owns 4,788 shares of the technology company’s stock worth $250,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 90.66% of the company’s stock.
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Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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