Zacks: Brokerages Expect Zagg Inc (ZAGG) to Announce $0.42 EPS

Analysts expect Zagg Inc (NASDAQ:ZAGG) to announce earnings per share of $0.42 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Zagg’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.40. Zagg posted earnings of $0.34 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 23.5%. The company is expected to issue its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Zagg will report full year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.45. For the next fiscal year, analysts anticipate that the business will post earnings of $1.55 per share, with EPS estimates ranging from $1.49 to $1.60. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Zagg.

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

A number of equities analysts recently weighed in on ZAGG shares. BidaskClub lowered shares of Zagg from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. ValuEngine lowered shares of Zagg from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, B. Riley boosted their target price on shares of Zagg from $16.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.43.

ZAGG traded down $0.05 on Friday, reaching $13.29. 265,395 shares of the company’s stock were exchanged, compared to its average volume of 450,784. The firm has a market capitalization of $415.34 million, a PE ratio of 13.70, a PEG ratio of 1.41 and a beta of 1.49. Zagg has a twelve month low of $10.90 and a twelve month high of $23.70. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.

In other Zagg news, President Brian Stech sold 10,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the transaction, the president now directly owns 198,864 shares in the company, valued at approximately $2,917,334.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.

Large investors have recently bought and sold shares of the business. Capital Fund Management S.A. acquired a new position in Zagg in the 2nd quarter valued at about $386,000. Globeflex Capital L P raised its stake in shares of Zagg by 123.2% in the 2nd quarter. Globeflex Capital L P now owns 79,000 shares of the specialty retailer’s stock valued at $1,367,000 after acquiring an additional 43,600 shares during the period. BlackRock Inc. raised its stake in shares of Zagg by 0.7% in the 1st quarter. BlackRock Inc. now owns 1,825,475 shares of the specialty retailer’s stock valued at $22,270,000 after acquiring an additional 13,177 shares during the period. Bailard Inc. purchased a new stake in shares of Zagg in the 2nd quarter valued at approximately $606,000. Finally, Bank of Montreal Can purchased a new stake in shares of Zagg in the 2nd quarter valued at approximately $242,000. Institutional investors own 85.69% of the company’s stock.

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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