$0.59 EPS Expected for Plantronics, Inc. (NYSE:POLY) This Quarter

Posted by on Jun 8th, 2022

Brokerages expect Plantronics, Inc. (NYSE:POLY – Get Rating) to report earnings per share (EPS) of $0.59 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Plantronics’ earnings. The lowest EPS estimate is $0.53 and the highest is $0.65. Plantronics reported earnings of $0.60 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 1.7%. The firm is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Plantronics will report full year earnings of $3.26 per share for the current financial year, with EPS estimates ranging from $3.11 to $3.40. For the next fiscal year, analysts forecast that the firm will report earnings of $4.70 per share, with EPS estimates ranging from $4.55 to $4.84. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Plantronics.

Plantronics (NYSE:POLY – Get Rating) last issued its quarterly earnings results on Friday, May 27th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.06). The company had revenue of $421.00 million during the quarter, compared to the consensus estimate of $423.51 million. Plantronics had a net margin of 1.07% and a negative return on equity of 311.62%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year.

Several brokerages have commented on POLY. JPMorgan Chase & Co. downgraded shares of Plantronics from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $33.00 to $40.00 in a research report on Tuesday, March 29th. StockNews.com began coverage on shares of Plantronics in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, TheStreet upgraded shares of Plantronics from a “d+” rating to a “c-” rating in a research report on Friday, April 22nd. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.25.

Shares of POLY stock traded up $0.03 during trading on Wednesday, hitting $39.57. The company had a trading volume of 1,072,251 shares, compared to its average volume of 1,121,770. The company has a debt-to-equity ratio of 74.41, a quick ratio of 1.07 and a current ratio of 1.54. The firm has a market capitalization of $1.73 billion, a P/E ratio of 113.06 and a beta of 1.77. The stock’s 50-day moving average price is $39.74 and its 200 day moving average price is $32.18. Plantronics has a one year low of $22.69 and a one year high of $43.37.

In other news, Director Guido Jouret sold 800 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $39.35, for a total transaction of $31,480.00. Following the completion of the transaction, the director now directly owns 21,226 shares in the company, valued at $835,243.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of POLY. State of Alaska Department of Revenue acquired a new stake in Plantronics in the fourth quarter valued at $887,000. Louisiana State Employees Retirement System bought a new stake in Plantronics during the fourth quarter valued at $607,000. Miracle Mile Advisors LLC bought a new stake in Plantronics during the fourth quarter valued at $321,000. Profit Investment Management LLC bought a new stake in Plantronics during the fourth quarter valued at $2,867,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Plantronics during the fourth quarter valued at $25,000. Institutional investors and hedge funds own 88.85% of the company’s stock.

About Plantronics (Get Rating)

Plantronics, Inc designs, manufactures, markets, and sells integrated communications and collaborations solutions for corporate customers, small businesses, and individuals in the United States, Europe, the Middle East, Africa, the Asia Pacific, and rest of the Americas. Its principal product categories include headsets, which comprises wired and wireless communication headsets; voice that includes open session initiation protocol and native ecosystem desktop phones, and conference room phones; video conferencing solutions and peripherals, including cameras, speakers, and microphones designed to work with a range of unified communication and collaboration, unified communication as a service, and video as a service environments, including RealPresence collaboration solutions of infrastructure to endpoints that allows people to connect and collaborate; and content sharing solutions.

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