Zagg (NASDAQ:ZAGG) Updates FY18 Earnings Guidance

Zagg (NASDAQ:ZAGG) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.30-1.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.47. The company issued revenue guidance of $550-570 million, compared to the consensus revenue estimate of $568.49 million.

Zagg (NASDAQ ZAGG) traded down $0.10 during trading on Wednesday, reaching $12.65. The company’s stock had a trading volume of 442,359 shares, compared to its average volume of 643,251. Zagg has a one year low of $6.30 and a one year high of $23.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12. The firm has a market capitalization of $358.08, a PE ratio of 24.52, a PEG ratio of 1.82 and a beta of 0.96.

Zagg (NASDAQ:ZAGG) last posted its quarterly earnings results on Wednesday, March 7th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.02). Zagg had a net margin of 2.91% and a return on equity of 25.89%. The business had revenue of $176.92 million during the quarter, compared to analyst estimates of $167.15 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The firm’s quarterly revenue was up 53.9% on a year-over-year basis. analysts anticipate that Zagg will post 1.41 earnings per share for the current year.

A number of analysts have weighed in on ZAGG shares. Craig Hallum set a $24.00 price target on Zagg and gave the company a buy rating in a research note on Wednesday, January 3rd. Zacks Investment Research reaffirmed a hold rating on shares of Zagg in a report on Saturday, January 13th. B. Riley lowered Zagg from a buy rating to a neutral rating and dropped their price objective for the stock from $20.00 to $16.00 in a report on Thursday, March 8th. BidaskClub lowered Zagg from a buy rating to a hold rating in a report on Tuesday, January 16th. Finally, Northland Securities reaffirmed a buy rating and set a $23.00 price objective on shares of Zagg in a report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $17.17.

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Zagg Company Profile

ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.

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