Zagg Inc (ZAGG) Expected to Announce Earnings of $0.42 Per Share

Equities analysts expect that Zagg Inc (NASDAQ:ZAGG) will announce earnings per share (EPS) of $0.42 for the current quarter, Zacks reports. Three analysts have issued estimates for Zagg’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.43. Zagg reported earnings per share of $0.34 in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.5%. The business is expected to issue its next earnings report on Wednesday, November 7th.

On average, analysts expect that Zagg will report full year earnings of $1.40 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $1.45. For the next year, analysts forecast that the company will post earnings of $1.55 per share, with EPS estimates ranging from $1.49 to $1.60. Zacks’ EPS averages are an average based on a survey of analysts that cover Zagg.

Zagg (NASDAQ:ZAGG) last released its earnings results on Tuesday, July 31st. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.06). Zagg had a return on equity of 30.17% and a net margin of 5.18%. The business had revenue of $118.57 million for the quarter, compared to analyst estimates of $116.44 million.

Several equities analysts have issued reports on the company. ValuEngine cut Zagg from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. B. Riley boosted their target price on Zagg from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Finally, BidaskClub upgraded Zagg from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $19.83.

In related news, President Brian Stech sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the sale, the president now owns 198,864 shares in the company, valued at approximately $2,917,334.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reliance Trust Co. of Delaware purchased a new stake in Zagg in the 2nd quarter valued at approximately $180,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Zagg during the 2nd quarter worth $233,000. Bank of Montreal Can purchased a new position in shares of Zagg during the 2nd quarter worth $242,000. Guggenheim Capital LLC purchased a new position in shares of Zagg during the 1st quarter worth $180,000. Finally, Cambria Investment Management L.P. purchased a new position in shares of Zagg during the 2nd quarter worth $302,000. Institutional investors and hedge funds own 85.33% of the company’s stock.

NASDAQ ZAGG opened at $11.83 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.66. Zagg has a 12-month low of $10.90 and a 12-month high of $23.70. The company has a market cap of $339.32 million, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.49.

About Zagg

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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