Brokerages expect Logitech International SA (NASDAQ:LOGI) to report $0.46 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Logitech International’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.45. Logitech International reported earnings of $0.40 per share during the same quarter last year, which would indicate a positive year over year growth rate of 15%. The company is expected to report its next quarterly earnings report after the market closes on Monday, October 22nd.
On average, analysts expect that Logitech International will report full year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.85 to $1.89. For the next year, analysts expect that the business will post earnings of $2.08 per share, with EPS estimates ranging from $1.96 to $2.19. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Logitech International.
Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, July 30th. The technology company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. The company had revenue of $608.48 million during the quarter, compared to analyst estimates of $584.37 million. Logitech International had a net margin of 7.97% and a return on equity of 24.63%. During the same quarter in the prior year, the business earned $0.24 earnings per share.
Several research firms recently weighed in on LOGI. JPMorgan Chase & Co. restated a “neutral” rating on shares of Logitech International in a research report on Wednesday. Citigroup cut their target price on shares of Logitech International from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday. BidaskClub lowered shares of Logitech International from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. Zacks Investment Research lowered shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 24th. Finally, ValuEngine lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.20.
In other Logitech International news, CEO Bracken Darrell sold 100,000 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $45.66, for a total transaction of $4,566,000.00. Following the completion of the transaction, the chief executive officer now owns 712,137 shares in the company, valued at $32,516,175.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Ramsey Quantitative Systems bought a new position in Logitech International during the third quarter worth about $379,000. Dorsey Wright & Associates purchased a new stake in shares of Logitech International in the third quarter worth about $6,123,000. Bank of Montreal Can lifted its holdings in shares of Logitech International by 10.8% in the third quarter. Bank of Montreal Can now owns 17,965 shares of the technology company’s stock worth $803,000 after buying an additional 1,749 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of Logitech International in the third quarter worth about $446,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Logitech International in the third quarter worth about $238,000. Hedge funds and other institutional investors own 36.45% of the company’s stock.
LOGI traded down $0.99 during trading on Friday, hitting $39.74. 6,135 shares of the company traded hands, compared to its average volume of 336,156. The firm has a market cap of $7.34 billion, a P/E ratio of 30.40, a PEG ratio of 2.80 and a beta of 0.96. Logitech International has a one year low of $32.66 and a one year high of $49.96.
About Logitech International
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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