Brokerages Expect Logitech International S.A. (NASDAQ:LOGI) Will Announce Earnings of $0.96 Per Share


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Wall Street brokerages expect that Logitech International S.A. (NASDAQ:LOGI) will report $0.96 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Logitech International’s earnings. The lowest EPS estimate is $0.83 and the highest is $1.21. Logitech International reported earnings of $0.42 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 128.6%. The business is scheduled to report its next earnings results after the market closes on Wednesday, April 28th.

According to Zacks, analysts expect that Logitech International will report full-year earnings of $5.92 per share for the current fiscal year, with EPS estimates ranging from $5.79 to $6.17. For the next financial year, analysts forecast that the company will report earnings of $4.21 per share, with EPS estimates ranging from $4.08 to $4.41. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Logitech International.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Sunday, January 17th. The technology company reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $1.32. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.25 billion. Logitech International had a net margin of 18.31% and a return on equity of 38.26%. During the same period last year, the firm posted $0.69 EPS.

Several equities analysts have recently issued reports on LOGI shares. UBS Group reaffirmed a “neutral” rating on shares of Logitech International in a research note on Monday, February 22nd. Zacks Investment Research cut shares of Logitech International from a “strong-buy” rating to a “hold” rating and set a $110.00 price target for the company. in a report on Tuesday, March 23rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of Logitech International from $105.00 to $110.00 in a report on Monday, December 21st. DA Davidson lifted their target price on shares of Logitech International from $119.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Logitech International in a research report on Tuesday, March 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $109.89.

In related news, Director Didier Hirsch sold 2,679 shares of the company’s stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $102.50, for a total transaction of $274,597.50. Following the transaction, the director now owns 6,880 shares in the company, valued at approximately $705,200. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bracken Darrell sold 41,666 shares of the company’s stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $105.64, for a total transaction of $4,401,596.24. The disclosure for this sale can be found here. Insiders sold a total of 86,015 shares of company stock worth $9,166,970 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Koshinski Asset Management Inc. acquired a new position in Logitech International during the 4th quarter worth about $293,000. Amundi Pioneer Asset Management Inc. lifted its position in Logitech International by 28.8% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,134,556 shares of the technology company’s stock worth $110,267,000 after buying an additional 253,814 shares in the last quarter. BNC Wealth Management LLC lifted its position in Logitech International by 530.4% during the 4th quarter. BNC Wealth Management LLC now owns 13,018 shares of the technology company’s stock worth $1,265,000 after buying an additional 10,953 shares in the last quarter. Voya Financial Advisors Inc. lifted its position in Logitech International by 19.1% during the 4th quarter. Voya Financial Advisors Inc. now owns 5,019 shares of the technology company’s stock worth $488,000 after buying an additional 806 shares in the last quarter. Finally, Norges Bank acquired a new position in Logitech International during the 4th quarter worth about $230,842,000. Institutional investors and hedge funds own 33.66% of the company’s stock.

Logitech International stock traded up $2.77 during trading hours on Friday, hitting $108.60. 11,225 shares of the company traded hands, compared to its average volume of 941,772. The firm has a market cap of $18.13 billion, a P/E ratio of 26.93 and a beta of 0.88. The firm’s 50-day simple moving average is $104.68 and its two-hundred day simple moving average is $94.90. Logitech International has a 1-year low of $44.01 and a 1-year high of $120.24.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that helps people connect to digital and cloud experiences. The company offers pointing devices, such as wireless mouse and trackball; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.

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

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