Corsair Gaming, Inc. (NASDAQ:CRSR) Expected to Announce Earnings of $0.43 Per Share

Wall Street brokerages predict that Corsair Gaming, Inc. (NASDAQ:CRSR) will post earnings per share (EPS) of $0.43 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Corsair Gaming’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.47. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, August 3rd.

On average, analysts expect that Corsair Gaming will report full year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.76 to $1.89. For the next financial year, analysts anticipate that the firm will post earnings of $1.91 per share, with EPS estimates ranging from $1.77 to $1.98. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Corsair Gaming.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Tuesday, May 4th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.25. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $453.27 million. The company’s revenue for the quarter was up 201.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS.

A number of research analysts have commented on CRSR shares. Zacks Investment Research cut Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, July 7th. Barclays cut their price target on Corsair Gaming from $51.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 5th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $43.90.

Shares of CRSR traded down $0.55 during midday trading on Thursday, reaching $29.66. 46,473 shares of the company were exchanged, compared to its average volume of 1,670,933. The company’s 50-day moving average is $32.01. Corsair Gaming has a 1-year low of $14.09 and a 1-year high of $51.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 0.96.

In related news, CFO Michael G. Potter sold 7,500 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $32.85, for a total value of $246,375.00. Following the completion of the sale, the chief financial officer now directly owns 7,500 shares of the company’s stock, valued at $246,375. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew J. Paul sold 63,533 shares of the business’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $35.00, for a total value of $2,223,655.00. Following the completion of the sale, the chief executive officer now directly owns 2,994,274 shares of the company’s stock, valued at $104,799,590. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,548,411 shares of company stock valued at $290,440,790. 71.70% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Exane Derivatives bought a new position in shares of Corsair Gaming during the first quarter valued at approximately $26,000. Panagora Asset Management Inc. bought a new position in shares of Corsair Gaming during the first quarter valued at approximately $33,000. Rockefeller Capital Management L.P. grew its holdings in shares of Corsair Gaming by 126.7% during the first quarter. Rockefeller Capital Management L.P. now owns 1,682 shares of the company’s stock valued at $55,000 after purchasing an additional 940 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Corsair Gaming during the first quarter valued at approximately $66,000. Finally, Amundi Asset Management US Inc. bought a new position in shares of Corsair Gaming during the first quarter valued at approximately $67,000. 10.39% of the stock is owned by institutional investors.

About Corsair Gaming

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.

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Earnings History and Estimates for Corsair Gaming (NASDAQ:CRSR)

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