Logitech (LOGI) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Logitech (LOGI) closed at $126.18, marking a -0.3% move from the previous day. This change lagged the S&P 500's daily gain of 1.13%.
Prior to today's trading, shares of the maker of keyboards, webcams and other computer accessories had lost 4.53% over the past month. This has lagged the Computer and Technology sector's gain of 4.4% and the S&P 500's gain of 2.39% in that time.
Wall Street will be looking for positivity from LOGI as it approaches its next earnings report date. This is expected to be July 26, 2021. On that day, LOGI is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 29.69%. Our most recent consensus estimate is calling for quarterly revenue of $1.15 billion, up 45.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.52 per share and revenue of $5.33 billion, which would represent changes of -29.6% and +1.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for LOGI. 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. 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.
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. LOGI is currently a Zacks Rank #3 (Hold).
Looking at its valuation, LOGI is holding a Forward P/E ratio of 28.02. This represents a premium compared to its industry's average Forward P/E of 10.88.
The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 7% 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.
To follow LOGI in the coming trading sessions, be sure to utilize Zacks.com.
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