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Logitech (LOGI) Gains As Market Dips: What You Should Know

Zacks Equity Research
·3 mins read

Logitech (LOGI) closed the most recent trading day at $70.58, moving +0.16% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.12%. Elsewhere, the Dow lost 0.88%, while the tech-heavy Nasdaq lost 1.07%.

Coming into today, shares of the maker of keyboards, webcams and other computer accessories had lost 6.69% in the past month. In that same time, the Computer and Technology sector lost 1.17%, while the S&P 500 lost 0.59%.

Investors will be hoping for strength from LOGI as it approaches its next earnings release. On that day, LOGI is projected to report earnings of $0.61 per share, which would represent year-over-year growth of 22%. Meanwhile, our latest consensus estimate is calling for revenue of $841.06 million, up 16.86% from the prior-year quarter.

LOGI's full-year Zacks Consensus Estimates are calling for earnings of $2.50 per share and revenue of $3.36 billion. These results would represent year-over-year changes of +16.28% and +12.92%, respectively.

Any recent changes to analyst estimates for LOGI should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. LOGI is currently a Zacks Rank #2 (Buy).

Looking at its valuation, LOGI is holding a Forward P/E ratio of 28.24. For comparison, its industry has an average Forward P/E of 31.35, which means LOGI is trading at a discount to the group.

The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 126, which puts it in the top 50% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow LOGI in the coming trading sessions, be sure to utilize Zacks.com.

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Logitech International S.A. (LOGI) : Free Stock Analysis Report
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Zacks Investment Research