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Turtle Beach (HEAR) Gains As Market Dips: What You Should Know

Zacks Equity Research
·3 min read

Turtle Beach (HEAR) closed the most recent trading day at $17.78, moving +0.23% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.63%. Elsewhere, the Dow lost 1.44%, while the tech-heavy Nasdaq lost 1.65%.

Heading into today, shares of the audio technology company had gained 0.91% over the past month, lagging the Computer and Technology sector's gain of 5.81% and the S&P 500's gain of 2.86% in that time.

Investors will be hoping for strength from HEAR as it approaches its next earnings release. In that report, analysts expect HEAR to post earnings of $0.25 per share. This would mark year-over-year growth of 238.89%. 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.

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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.76% higher. HEAR currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that HEAR has a Forward P/E ratio of 20.16 right now. For comparison, its industry has an average Forward P/E of 27.3, which means HEAR is trading at a discount to the group.

The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 118, which puts it in the top 47% 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.

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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