Logitech International SA (NASDAQ:LOGI) Expected to Post Quarterly Sales of $907.07 Million

Wall Street analysts forecast that Logitech International SA (NASDAQ:LOGI) will announce $907.07 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Logitech International’s earnings, with the lowest sales estimate coming in at $905.60 million and the highest estimate coming in at $909.01 million. Logitech International reported sales of $864.39 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The company is scheduled to announce its next quarterly earnings results on Monday, January 20th.

According to Zacks, analysts expect that Logitech International will report full-year sales of $2.97 billion for the current financial year, with estimates ranging from $2.95 billion to $2.98 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.18 billion, with estimates ranging from $3.14 billion to $3.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Logitech International.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, October 21st. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. The company had revenue of $719.69 million for the quarter, compared to analysts’ expectations of $725.70 million. Logitech International had a return on equity of 25.67% and a net margin of 9.36%. During the same quarter in the previous year, the firm earned $0.49 earnings per share.

Several research analysts recently issued reports on LOGI shares. Maxim Group reaffirmed a “hold” rating and set a $36.00 target price on shares of Logitech International in a research report on Wednesday, July 24th. BidaskClub cut Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Wedbush reaffirmed a “buy” rating and set a $46.00 target price on shares of Logitech International in a research report on Tuesday. ValuEngine upgraded Logitech International from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Finally, Citigroup set a $46.00 price target on Logitech International and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $45.33.

Shares of NASDAQ:LOGI traded up $0.32 during mid-day trading on Friday, hitting $40.32. 357,700 shares of the company traded hands, compared to its average volume of 209,030. The stock has a market cap of $6.64 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.35 and a beta of 1.28. Logitech International has a 12-month low of $29.06 and a 12-month high of $42.35. The stock has a 50-day moving average price of $40.83 and a two-hundred day moving average price of $39.71.

In related news, CEO Bracken Darrell sold 18,656 shares of Logitech International stock in a transaction on Monday, September 16th. The stock was sold at an average price of $41.70, for a total transaction of $777,955.20. Following the sale, the chief executive officer now directly owns 741,953 shares in the company, valued at $30,939,440.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 72,025 shares of company stock worth $2,950,032 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Logitech International by 86.1% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 804 shares of the technology company’s stock valued at $32,000 after buying an additional 372 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Logitech International in the second quarter valued at $41,000. Whittier Trust Co. bought a new stake in shares of Logitech International in the third quarter valued at $41,000. Arcadia Investment Management Corp MI bought a new stake in shares of Logitech International in the second quarter valued at $52,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Logitech International in the second quarter valued at $68,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.

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Earnings History and Estimates for Logitech International (NASDAQ:LOGI)

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