Logitech (LOGI) Stock Sinks As Market Gains: What You Should Know
Logitech (LOGI) closed the most recent trading day at $80.28, moving -0.91% from the previous trading session. This change lagged the S&P 500's 0.17% gain on the day. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.44%.
Prior to today's trading, shares of the maker of keyboards, webcams and other computer accessories had lost 9.38% over the past month. This has lagged the Computer and Technology sector's gain of 4.39% and the S&P 500's gain of 3.19% in that time.
Wall Street will be looking for positivity from Logitech as it approaches its next earnings report date. In that report, analysts expect Logitech to post earnings of $1.32 per share. This would mark a year-over-year decline of 46.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.51 billion, down 9.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.46 per share and revenue of $5.33 billion. These totals would mark changes of -30.53% and +1.53%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Logitech. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 5.07% lower within the past month. Logitech is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, Logitech is currently trading at a Forward P/E ratio of 18.15. This valuation marks a premium compared to its industry's average Forward P/E of 15.23.
The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 235, which puts it in the bottom 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Logitech International S.A. (LOGI) : Free Stock Analysis Report
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