Turtle Beach TBCH shares rallied 10.3% in the last trading session to close at $13.77. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.5% gain over the past four weeks.
Turtle Beach is benefiting from strong new product launches, growing demand for premium gaming accessories, anticipated industry catalysts like the Grand Theft Auto VI release, and enhanced financial flexibility from recent credit facility restructuring.
This audio technology company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of -114.3%. Revenues are expected to be $61.13 million, up 7.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Turtle Beach, the consensus EPS estimate for the quarter has been revised 1.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TBCH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Turtle Beach is a member of the Zacks Computer - Peripheral Equipment industry. One other stock in the same industry, Logitech LOGI, finished the last trading session 1.6% higher at $107.64. LOGI has returned 2.1% over the past month.
Logitech's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.31. Compared to the company's year-ago EPS, this represents a change of +4%. Logitech currently boasts a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
