Brokerages Anticipate Plantronics, Inc. (NYSE:POLY) Will Post Quarterly Sales of $424.80 Million

Equities analysts predict that Plantronics, Inc. (NYSE:POLY) will report sales of $424.80 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Plantronics’ earnings. The lowest sales estimate is $423.51 million and the highest is $426.08 million. Plantronics reported sales of $410.97 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The company is expected 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 year, with estimates ranging from $1.78 billion to $1.81 billion. For the next financial year, analysts forecast that the firm will post sales of $1.86 billion, with estimates ranging from $1.81 billion to $1.90 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Plantronics.

Plantronics (NYSE:POLY) last posted its earnings results on Thursday, July 29th. The company reported $0.60 earnings per share for the quarter, beating 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 company had revenue of $431.17 million for the quarter, compared to analyst estimates of $418.44 million.

A number of brokerages have recently weighed in on POLY. Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating and set a $28.00 price target on the stock in a report on Monday, October 4th. Evercore ISI reiterated a “hold” rating and issued a $30.00 price objective on shares of Plantronics in a research report on Friday, October 8th. Finally, Morgan Stanley cut their price target on Plantronics from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, July 30th.

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

Shares of POLY traded up $1.85 during mid-day trading on Monday, hitting $28.18. The stock had a trading volume of 14,102 shares, compared to its average volume of 510,564. Plantronics has a fifty-two week low of $16.50 and a fifty-two week high of $50.89. The stock has a market capitalization of $1.19 billion, a P/E ratio of -58.64 and a beta of 1.84. The company’s fifty day moving average price is $28.55.

Plantronics Company Profile

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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