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Turtle Beach (HEAR) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3 mins read

Turtle Beach (HEAR) closed at $18.32 in the latest trading session, marking a +0.83% move from the prior day. This change lagged the S&P 500's 1.8% gain on the day. Meanwhile, the Dow gained 1.68%, and the Nasdaq, a tech-heavy index, added 2.33%.

Prior to today's trading, shares of the audio technology company had gained 2.66% over the past month. This has outpaced the Computer and Technology sector's loss of 9.14% and the S&P 500's loss of 6.31% in that time.

HEAR will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.25, up 238.89% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $84.40 million, up 80.65% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.88 per share and revenue of $302.13 million. These totals would mark changes of -15.38% and +28.75%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for HEAR. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.76% higher. HEAR currently has a Zacks Rank of #2 (Buy).

Looking at its valuation, HEAR is holding a Forward P/E ratio of 20.65. This represents a discount compared to its industry's average Forward P/E of 25.88.

The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 58, putting it in the top 23% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Zacks Investment Research