Plantronics, Inc. (NYSE:PLT) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.75-0.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.71. The company issued revenue guidance of $215-225 million, compared to the consensus revenue estimate of $223.45 million.
Several research analysts have commented on the stock. Zacks Investment Research raised shares of Plantronics from a sell rating to a hold rating in a report on Tuesday, October 3rd. TheStreet downgraded shares of Plantronics from a b- rating to a c+ rating in a report on Monday, August 21st. J P Morgan Chase & Co downgraded shares of Plantronics from an overweight rating to a neutral rating and cut their price target for the company from $63.00 to $60.00 in a report on Friday, July 28th. Northland Securities set a $57.00 price target on shares of Plantronics and gave the company a buy rating in a report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of Plantronics from a sell rating to a strong sell rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $60.00.
Shares of Plantronics, Inc. (NYSE:PLT) traded up 13.40% on Wednesday, reaching $51.44. 487,353 shares of the company’s stock traded hands. Plantronics, Inc. has a 52-week low of $41.28 and a 52-week high of $58.27. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 20.91 and a beta of 1.28. The firm’s 50-day moving average is $44.57 and its 200-day moving average is $48.99.
Plantronics declared that its board has authorized a share buyback program on Thursday, July 27th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Plantronics Company Profile
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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