Zagg Inc to Post Q1 2019 Earnings of $0.23 Per Share, DA Davidson Forecasts (ZAGG)
Zagg Inc (NASDAQ:ZAGG) – Equities research analysts at DA Davidson boosted their Q1 2019 earnings per share (EPS) estimates for Zagg in a research note issued on Monday, December 3rd. DA Davidson analyst T. Forte now expects that the specialty retailer will earn $0.23 per share for the quarter, up from their previous estimate of $0.22. DA Davidson also issued estimates for Zagg’s Q2 2019 earnings at $0.14 EPS, Q3 2019 earnings at $0.56 EPS, FY2019 earnings at $1.61 EPS, FY2020 earnings at $1.76 EPS, FY2021 earnings at $1.83 EPS and FY2022 earnings at $1.88 EPS.
Zagg (NASDAQ:ZAGG) last issued its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The firm had revenue of $141.10 million during the quarter, compared to analyst estimates of $149.13 million. Zagg had a return on equity of 32.36% and a net margin of 6.00%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS.
Shares of ZAGG opened at $10.21 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.13. The company has a market cap of $287.10 million, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.09 and a beta of 1.68. Zagg has a 52 week low of $9.54 and a 52 week high of $21.10.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Fund Management S.A. purchased a new position in shares of Zagg in the 2nd quarter worth approximately $386,000. Bowling Portfolio Management LLC purchased a new position in shares of Zagg in the 3rd quarter worth approximately $1,077,000. Globeflex Capital L P boosted 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 worth $1,367,000 after buying an additional 43,600 shares during the last quarter. Strategic Wealth Advisors Group LLC purchased a new position in Zagg in the second quarter valued at approximately $760,000. Finally, Baird Financial Group Inc. lifted its stake in Zagg by 3.2% in the third quarter. Baird Financial Group Inc. now owns 623,065 shares of the specialty retailer’s stock valued at $9,066,000 after purchasing an additional 19,494 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.
In other news, President Brian Stech sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the transaction, the president now owns 198,864 shares in the company, valued at approximately $2,917,334.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.80% of the stock is owned by insiders.
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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