Plantronics, Inc. (NYSE:POLY) Expected to Announce Quarterly Sales of $424.80 Million

Wall Street brokerages forecast that Plantronics, Inc. (NYSE:POLY) will announce $424.80 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Plantronics’ earnings, with estimates ranging from $423.51 million to $426.08 million. Plantronics posted sales of $410.97 million in the same quarter last year, which suggests a positive year over year growth rate of 3.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that Plantronics will report full year sales of $1.80 billion for the current financial year, with estimates ranging from $1.78 billion to $1.81 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.86 billion, with estimates ranging from $1.81 billion to $1.90 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Plantronics.

Plantronics (NYSE:POLY) last announced its earnings results on Thursday, July 29th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.40. Plantronics had a negative return on equity of 127.71% and a negative net margin of 1.06%. The firm had revenue of $431.17 million for the quarter, compared to analysts’ expectations of $418.44 million.

Several equities research analysts recently commented on the company. Morgan Stanley dropped their target price on Plantronics from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, July 30th. Zacks Investment Research upgraded shares of Plantronics from a “strong sell” rating to a “hold” rating and set a $34.00 price target on the stock in a research report on Monday, July 19th.

In other news, CEO David M. Shull acquired 3,500 shares of the stock in a transaction on Tuesday, September 7th. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $105,000.00. Following the transaction, the chief executive officer now owns 181,094 shares in the company, valued at approximately $5,432,820. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Warren Schlichting acquired 2,000 shares of the stock in a transaction on Monday, September 13th. The shares were purchased at an average price of $28.94 per share, for a total transaction of $57,880.00. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

Shares of NYSE:POLY opened at $28.12 on Tuesday. Plantronics has a 12 month low of $10.95 and a 12 month high of $50.89. The company has a market capitalization of $1.19 billion, a PE ratio of -58.58 and a beta of 1.84. The business’s 50 day moving average price is $31.13.

About Plantronics

Plantronics, Inc engages in the design, manufacture, and distribution of headsets, voice, video, and content sharing solutions. It operates through the following segments: Products and Services. The Products segment includes the firm’s headsets, voice, and video product lines. The Services segment includes the maintenance support on hardware devices, as well as professional, managed, and cloud services and solutions.

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