Turtle Beach (HEAR) Stock Sinks As Market Gains: What You Should Know
Turtle Beach (HEAR) closed the most recent trading day at $12.41, moving -0.96% from the previous trading session. This change lagged the S&P 500's 0.22% gain on the day. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.6%.
Coming into today, shares of the audio technology company had lost 21.83% in the past month. In that same time, the Computer and Technology sector gained 4.32%, while the S&P 500 gained 2.39%.
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 $0.03 per share. This would mark a year-over-year decline of 81.25%. Meanwhile, our latest consensus estimate is calling for revenue of $41.70 million, up 1.98% from the prior-year quarter.
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 might also notice recent changes to analyst estimates for HEAR. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 52.74% lower within the past month. HEAR is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that HEAR has a Forward P/E ratio of 15.04 right now. For comparison, its industry has an average Forward P/E of 19.82, which means HEAR is trading at a discount to the group.
Meanwhile, HEAR's PEG ratio is currently 1.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Communication - Components industry currently had an average PEG ratio of 2.08 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 30, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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