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Turtle Beach (HEAR) Gains As Market Dips: What You Should Know
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Turtle Beach (HEAR - Free Report) closed the most recent trading day at $18.26, moving +0.33% from the previous trading session. This change outpaced the S&P 500's 1.23% loss on the day. At the same time, the Dow lost 1.31%, and the tech-heavy Nasdaq lost 2.29%.
Prior to today's trading, shares of the audio technology company had gained 17.42% over the past month. This has outpaced the Computer and Technology sector's gain of 5.9% and the S&P 500's gain of 5.2% 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 $0.29 per share, which would represent year-over-year growth of 583.33%. Our most recent consensus estimate is calling for quarterly revenue of $75.55 million, up 82.8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.56 per share and revenue of $261.80 million, which would represent changes of -46.15% and +11.56%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for HEAR. 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.
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 has moved 38.27% higher within the past month. HEAR currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that HEAR has a Forward P/E ratio of 32.5 right now. For comparison, its industry has an average Forward P/E of 28.92, which means HEAR is trading at a premium to the group.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% 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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Turtle Beach (HEAR) Gains As Market Dips: What You Should Know
Turtle Beach (HEAR - Free Report) closed the most recent trading day at $18.26, moving +0.33% from the previous trading session. This change outpaced the S&P 500's 1.23% loss on the day. At the same time, the Dow lost 1.31%, and the tech-heavy Nasdaq lost 2.29%.
Prior to today's trading, shares of the audio technology company had gained 17.42% over the past month. This has outpaced the Computer and Technology sector's gain of 5.9% and the S&P 500's gain of 5.2% 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 $0.29 per share, which would represent year-over-year growth of 583.33%. Our most recent consensus estimate is calling for quarterly revenue of $75.55 million, up 82.8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.56 per share and revenue of $261.80 million, which would represent changes of -46.15% and +11.56%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for HEAR. 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.
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 has moved 38.27% higher within the past month. HEAR currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that HEAR has a Forward P/E ratio of 32.5 right now. For comparison, its industry has an average Forward P/E of 28.92, which means HEAR is trading at a premium to the group.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% 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.