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Turtle Beach (HEAR) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research

In the latest trading session, Turtle Beach (HEAR) closed at $17.93, marking a +1.88% move from the previous day. This move outpaced the S&P 500's daily gain of 0.52%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.21%.

Heading into today, shares of the audio technology company had lost 4.03% over the past month, lagging the Computer and Technology sector's gain of 0.89% and the S&P 500's gain of 0.49% 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 $0.22 per share, which would represent year-over-year growth of 222.22%. Meanwhile, our latest consensus estimate is calling for revenue of $84.55 million, up 80.97% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.84 per share and revenue of $302.80 million. These totals would mark changes of -19.23% and +29.04%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for HEAR. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. Within the past 30 days, our consensus EPS projection remained stagnant. HEAR currently has a Zacks Rank of #2 (Buy).

Looking at its valuation, HEAR is holding a Forward P/E ratio of 20.95. This valuation marks a discount compared to its industry's average Forward P/E of 26.15.

The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% 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.

To follow HEAR in the coming trading sessions, be sure to utilize Zacks.com.


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Zacks Investment Research