In the latest trading session, Turtle Beach (HEAR) closed at $17.75, marking a +1.95% move from the previous day. This change outpaced the S&P 500's 1.05% gain on the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, added 1.72%.
Heading into today, shares of the audio technology company had lost 12.78% over the past month, lagging the Computer and Technology sector's loss of 4.28% and the S&P 500's loss of 3.29% in that time.
Investors will be hoping for strength from HEAR as it approaches its next earnings release. In that report, analysts expect HEAR to post earnings of $0.22 per share. This would mark year-over-year growth of 222.22%. Our most recent consensus estimate is calling for quarterly revenue of $84.55 million, up 80.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.84 per share and revenue of $302.80 million, which would represent changes of -19.23% and +29.04%, respectively, from the prior year.
Any recent changes to analyst estimates for HEAR should also be noted by investors. 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. 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. HEAR is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, HEAR currently has a Forward P/E ratio of 20.73. This valuation marks a discount compared to its industry's average Forward P/E of 25.86.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% 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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