Turtle Beach (HEAR) closed at $12.05 in the latest trading session, marking a -1.23% move from the prior day. This change lagged the S&P 500's 0.06% loss on the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the audio technology company had lost 24.92% over the past month. This has lagged the Computer and Technology sector's gain of 5.14% and the S&P 500's gain of 4.3% in that time.
Investors will be hoping for strength from HEAR as it approaches its next earnings release. On that day, HEAR is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 81.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $41.70 million, up 1.98% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.85 per share and revenue of $244.43 million. These totals would mark changes of -72.13% and -14.96%, respectively, from last year.
Any recent changes to analyst estimates for HEAR should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 51.99% lower within the past month. HEAR is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, HEAR is holding a Forward P/E ratio of 14.41. Its industry sports an average Forward P/E of 24.73, so we one might conclude that HEAR is trading at a discount comparatively.
Investors should also note that HEAR has a PEG ratio of 1.6 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Communication - Components was holding an average PEG ratio of 2.07 at yesterday's closing price.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Turtle Beach Corporation (HEAR) : Free Stock Analysis Report
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