Turtle Beach (HEAR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Turtle Beach (HEAR) closed at $12, marking a -0.25% move from the previous day. This move lagged the S&P 500's daily gain of 1.09%. At the same time, the Dow added 0.84%, and the tech-heavy Nasdaq gained 1.42%.
Prior to today's trading, shares of the audio technology company had lost 23.86% over the past month. This has lagged the Computer and Technology sector's gain of 4.97% and the S&P 500's gain of 1.18% in that time.
HEAR will be looking to display strength as it nears its next earnings release. On that day, HEAR is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 81.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $41.70 million, up 1.98% from the year-ago period.
HEAR's full-year Zacks Consensus Estimates are calling for earnings of $0.83 per share and revenue of $244.43 million. These results would represent year-over-year changes of -72.79% and -14.96%, respectively.
Investors should also note any recent changes to analyst estimates for HEAR. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 52.56% lower. HEAR currently has a Zacks Rank of #3 (Hold).
Digging into valuation, HEAR currently has a Forward P/E ratio of 14.44. For comparison, its industry has an average Forward P/E of 20.17, which means HEAR is trading at a discount to the group.
Meanwhile, HEAR's PEG ratio is currently 1.6. 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 1.99 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 8, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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