Plantronics (NYSE:PLT) released its quarterly earnings data on Tuesday. The technology company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.18, Briefing.com reports. Plantronics had a positive return on equity of 23.82% and a negative net margin of 7.13%. The business had revenue of $461.71 million for the quarter, compared to the consensus estimate of $478.38 million. During the same quarter in the previous year, the company posted $1.51 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. Plantronics updated its Q3 guidance to $0.01-0.31 EPS and its FY20 guidance to $2.94-3.74 EPS.
Shares of NYSE PLT traded up $0.68 during trading hours on Friday, hitting $25.46. 46,579 shares of the company traded hands, compared to its average volume of 308,789. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 6.37 and a beta of 1.54. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 2.45. The company’s 50 day moving average price is $36.62 and its 200 day moving average price is $38.33. Plantronics has a 12 month low of $23.14 and a 12 month high of $62.97.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Tuesday, November 19th. Plantronics’s dividend payout ratio is currently 15.00%.
In other news, CEO Joseph B. Burton sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.00, for a total transaction of $165,000.00. Following the transaction, the chief executive officer now owns 156,960 shares of the company’s stock, valued at approximately $5,179,680. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.
A number of analysts have issued reports on PLT shares. Zacks Investment Research raised Plantronics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Northland Securities downgraded Plantronics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $70.00 to $35.00 in a research note on Wednesday. Cowen set a $61.00 price objective on Plantronics and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley started coverage on Plantronics in a research note on Thursday, September 19th. They issued an “overweight” rating and a $58.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.33.
Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.
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