Plantronics (PLT) Releases Q3 Earnings Guidance

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Plantronics (NYSE:PLT) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.53-0.78 for the period, compared to the Thomson Reuters consensus estimate of $1.18. The company issued revenue guidance of $481-511 million, compared to the consensus revenue estimate of $520.74 million.Plantronics also updated its Q3 2019 guidance to $0.53-0.78 EPS.

Plantronics stock opened at $60.92 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 6.86 and a current ratio of 7.40. Plantronics has a 12 month low of $49.79 and a 12 month high of $82.28. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 22.48 and a beta of 1.09.

Plantronics (NYSE:PLT) last released its earnings results on Tuesday, November 6th. The technology company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.88). Plantronics had a positive return on equity of 25.39% and a negative net margin of 0.60%. The company had revenue of $483.07 million during the quarter, compared to the consensus estimate of $506.32 million. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue was up 129.7% compared to the same quarter last year. On average, research analysts predict that Plantronics will post 3.42 EPS for the current year.

PLT has been the topic of several analyst reports. Zacks Investment Research downgraded Plantronics from a buy rating to a hold rating in a report on Wednesday, October 10th. TheStreet downgraded Plantronics from a b- rating to a c+ rating in a report on Friday, September 14th. Finally, Sidoti raised Plantronics from a neutral rating to a buy rating in a report on Wednesday, August 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Plantronics has an average rating of Buy and an average target price of $68.00.

In other Plantronics news, CEO Joseph B. Burton sold 4,727 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $59.45, for a total value of $281,020.15. Following the sale, the chief executive officer now directly owns 123,599 shares of the company’s stock, valued at $7,347,960.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 4,789 shares of company stock worth $284,828 over the last three months. Corporate insiders own 1.70% of the company’s stock.

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Plantronics Company Profile

Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.

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