Turtle Beach (HEAR) closed at $9.85 in the latest trading session, marking a +1.55% move from the prior day. This move outpaced the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Prior to today's trading, shares of the audio technology company had gained 6.01% over the past month. This has outpaced the Computer and Technology sector's gain of 5.05% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from HEAR as it approaches its next earnings release. The company is expected to report EPS of -$0.23, down 125.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $50.16 million, down 32.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.11 per share and revenue of $245.85 million. These totals would mark changes of -63.77% and -14.47%, respectively, from last year.
Any recent changes to analyst estimates for HEAR should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. HEAR is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that HEAR has a Forward P/E ratio of 9.9 right now. 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 industry currently has a Zacks Industry Rank of 102, which puts it in the top 40% 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.
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Turtle Beach Corporation (HEAR) : Free Stock Analysis Report
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