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

Zacks Equity Research
·3 mins read

Turtle Beach (HEAR) closed at $19.67 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's 1.64% gain on the day. At the same time, the Dow added 0.88%, and the tech-heavy Nasdaq gained 2.56%.

Coming into today, shares of the audio technology company had gained 13.43% in the past month. In that same time, the Computer and Technology sector gained 3.41%, while the S&P 500 gained 2.44%.

Wall Street will be looking for positivity from HEAR as it approaches its next earnings report date. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $84.40 million, up 80.65% from the year-ago period.

HEAR's full-year Zacks Consensus Estimates are calling for earnings of $0.88 per share and revenue of $302.13 million. These results would represent year-over-year changes of -15.38% and +28.75%, respectively.

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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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. The Zacks Consensus EPS estimate has moved 4.76% higher within the past month. HEAR is currently a Zacks Rank #3 (Hold).

Digging into valuation, HEAR currently has a Forward P/E ratio of 22.56. This represents a discount compared to its industry's average Forward P/E of 27.58.

The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 111, putting it in the top 44% 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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Zacks Investment Research