In the latest trading session, Turtle Beach (HEAR) closed at $15.40, marking a -0.45% move from the previous day. This change lagged the S&P 500's daily gain of 0.76%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq gained 0.71%.
Prior to today's trading, shares of the audio technology company had gained 2.93% over the past month. This has outpaced the Computer and Technology sector's loss of 0.35% and the S&P 500's gain of 0.75% in that time.
HEAR will be looking to display strength as it nears its nex t earnings release, which is expected to be March 5, 2019. In tha t report , analysts expect HEAR to post earnings of $1.04 per share. This would mark a year-over-year decline of 10.34%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $94.33 million, up 18.36% from the year-ago period.
It is also important to note the recent changes to analyst estimates for HEAR. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 #3 (Hold).
Looking at its valuation, HEAR is holding a Forward P/E ratio of 8.72. Its industry sports an average Forward P/E of 19.45, so we one might conclude that HEAR is trading at a discount comparatively.
Meanwhile, HEAR's PEG ratio is currently 0.58. 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 1.63 at yesterday's closing price.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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 HEAR in the coming trading sessions, be sure to utilize Zacks.com.