Turtle Beach (HEAR) closed at $10.19 in the latest trading session, marking a -0.49% move from the prior day. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, lost 0.38%.
Heading into today, shares of the audio technology company had gained 7.23% over the past month, outpacing the Computer and Technology sector's loss of 1.9% and the S&P 500's gain of 0.33% in that time.
Wall Street will be looking for positivity from HEAR as it approaches its next earnings report date. On that day, HEAR is projected to report earnings of -$0.17 per share, which would represent a year-over-year decline of 142.5%. Meanwhile, our latest consensus estimate is calling for revenue of $42.66 million, down 29.86% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.12 per share and revenue of $246.12 million. These totals would mark changes of -63.28% and -14.37%, respectively, from last year.
Any recent changes to analyst estimates for HEAR should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 remained stagnant within the past month. HEAR currently has a Zacks Rank of #3 (Hold).
Investors should also note HEAR's current valuation metrics, including its Forward P/E ratio of 9.14. This valuation marks a discount compared to its industry's average Forward P/E of 25.95.
Meanwhile, HEAR's PEG ratio is currently 1.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HEAR's industry had an average PEG ratio of 1.59 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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