In the latest trading session, Turtle Beach (HEAR) closed at $11.11, marking a +1.83% move from the previous day. This move outpaced the S&P 500's daily gain of 0.97%. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the audio technology company had gained 16.93% over the past month. This has outpaced the Computer and Technology sector's loss of 1.04% and the S&P 500's gain of 0.64% in that time.
HEAR will be looking to display strength as it nears its nex t earnings release. The company is expected to report EPS of -$0.17, down 142.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $42.66 million, down 29.86% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.12 per share and revenue of $246.12 million, which would represent changes of -63.28% and -14.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for HEAR. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 remained stagnant within the past month. HEAR is currently a Zacks Rank #2 (Buy).
Looking at its valuation, HEAR is holding a Forward P/E ratio of 9.74. This valuation marks a discount compared to its industry's average Forward P/E of 25.51.
We can also see that HEAR currently has a PEG ratio of 1.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Communication - Components was holding an average PEG ratio of 1.58 at yesterday's closing price.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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