Zagg (ZAGG) Posts Earnings Results, Beats Expectations By $0.06 EPS

Zagg (NASDAQ:ZAGG) released its quarterly earnings data on Tuesday. The specialty retailer reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06, Morningstar.com reports. Zagg had a net margin of 7.28% and a return on equity of 28.63%. The business had revenue of $166.51 million during the quarter, compared to analysts’ expectations of $163.31 million. Zagg updated its FY 2019 guidance to $1.47-1.60 EPS.

Shares of NASDAQ ZAGG opened at $9.63 on Thursday. The firm has a market capitalization of $301.00 million, a P/E ratio of 6.69, a P/E/G ratio of 0.95 and a beta of 1.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.13. Zagg has a 1-year low of $7.96 and a 1-year high of $19.40.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in Zagg by 20.2% in the 4th quarter. American Century Companies Inc. now owns 367,943 shares of the specialty retailer’s stock worth $3,598,000 after purchasing an additional 61,904 shares during the period. Geode Capital Management LLC boosted its stake in Zagg by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 334,729 shares of the specialty retailer’s stock worth $3,272,000 after purchasing an additional 42,147 shares during the period. Dimensional Fund Advisors LP boosted its stake in Zagg by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,896,725 shares of the specialty retailer’s stock worth $18,549,000 after purchasing an additional 11,077 shares during the period. Millennium Management LLC boosted its stake in Zagg by 65.9% in the 4th quarter. Millennium Management LLC now owns 71,464 shares of the specialty retailer’s stock worth $699,000 after purchasing an additional 28,378 shares during the period. Finally, Hancock Whitney Corp acquired a new position in Zagg in the 4th quarter worth $166,000. 80.95% of the stock is owned by hedge funds and other institutional investors.



A number of analysts recently commented on the stock. BidaskClub upgraded shares of Zagg from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. ValuEngine raised shares of Zagg from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 5th. Finally, Zacks Investment Research lowered shares of Zagg from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.75.

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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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Earnings History for Zagg (NASDAQ:ZAGG)

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