Turtle Beach (HEAR) closed the most recent trading day at $23.82, moving -1.53% from the previous trading session. This change lagged the S&P 500’s 0.57% gain on the day. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq added 0.99%.
Coming into today, shares of the audio technology company had lost 10.92% in the past month. In that same time, the Computer and Technology sector gained 3.63%, while the S&P 500 gained 3.01%.
HEAR will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2018. In that report, analysts expect HEAR to post earnings of $0.47 per share. This would mark year-over-year growth of 1275%. Meanwhile, our latest consensus estimate is calling for revenue of $65.83 million, up 82.97% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.17 per share and revenue of $257.97 million, which would represent changes of +1004.17% and +72.98%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for HEAR. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate has moved 72.41% higher within the past month. HEAR is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, HEAR is holding a Forward P/E ratio of 11.18. For comparison, its industry has an average Forward P/E of 20.14, which means HEAR is trading at a discount to the group.
Investors should also note that HEAR has a PEG ratio of 0.62 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Communication – Components industry currently had an average PEG ratio of 1.9 as of yesterday’s close.
The Communication – Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 39% 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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