Focusrite (LON:TUNE) Releases Earnings Results

Focusrite (LON:TUNE) posted its earnings results on Tuesday. The company reported GBX 13.20 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Focusrite had a negative return on equity of 3.62% and a negative net margin of 2.52%. The firm had revenue of GBX 9,034 million for the quarter.

Focusrite Trading Down 2.8%

Shares of TUNE stock opened at GBX 233.38 on Wednesday. The stock has a market capitalization of £137.14 million, a P/E ratio of 25.93, a P/E/G ratio of 2.95 and a beta of 1.12. Focusrite has a 12-month low of GBX 155 and a 12-month high of GBX 283.95. The company has a current ratio of 3.53, a quick ratio of 0.77 and a debt-to-equity ratio of 26.31. The firm’s 50 day moving average is GBX 243.92 and its 200 day moving average is GBX 221.65.

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 355 price objective on shares of Focusrite in a research report on Tuesday. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 355.

About Focusrite

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound.

We are a rapidly growing group of innovative, market-leading brands, operating across two divisions.

Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.