Turtle Beach Corporation (HEAR) Expected to Post Earnings of $0.30 Per Share

Brokerages expect Turtle Beach Corporation (NASDAQ:HEAR) to post $0.30 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Turtle Beach’s earnings. Turtle Beach posted earnings per share of $0.25 during the same quarter last year, which would suggest a positive year over year growth rate of 20%. The business is expected to announce its next quarterly earnings report on Wednesday, March 14th.

According to Zacks, analysts expect that Turtle Beach will report full-year earnings of ($0.06) per share for the current year. For the next year, analysts forecast that the business will post earnings of $0.01 per share, with EPS estimates ranging from ($0.02) to $0.04. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Turtle Beach.

Turtle Beach (NASDAQ:HEAR) last issued its quarterly earnings results on Thursday, November 2nd. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. The business had revenue of $35.98 million during the quarter, compared to analysts’ expectations of $39.85 million.

A number of equities research analysts have issued reports on the company. ValuEngine lowered Turtle Beach from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered Turtle Beach from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th.

Shares of Turtle Beach (NASDAQ HEAR) remained flat at $$0.46 during mid-day trading on Tuesday. The company’s stock had a trading volume of 228,000 shares, compared to its average volume of 246,580. Turtle Beach has a fifty-two week low of $0.42 and a fifty-two week high of $1.61. The company has a current ratio of 1.06, a quick ratio of 0.42 and a debt-to-equity ratio of -0.74. The firm has a market cap of $22.62, a PE ratio of -4.18 and a beta of 0.99.

In related news, insider Frederick J. Romano sold 1,200,000 shares of Turtle Beach stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $0.73, for a total value of $876,000.00. Following the completion of the transaction, the insider now owns 3,433,489 shares in the company, valued at $2,506,446.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Juergen M. Stark purchased 83,333 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $0.54 per share, with a total value of $44,999.82. The disclosure for this purchase can be found here. Company insiders own 59.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. purchased a new position in Turtle Beach in the third quarter worth about $116,000. Perkins Capital Management Inc. grew its position in Turtle Beach by 19.0% in the third quarter. Perkins Capital Management Inc. now owns 626,359 shares of the communications equipment provider’s stock worth $520,000 after acquiring an additional 100,059 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in Turtle Beach in the second quarter worth about $3,310,000. Finally, Virtu KCG Holdings LLC purchased a new position in Turtle Beach in the second quarter worth about $107,000. Institutional investors own 16.02% of the company’s stock.

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Turtle Beach Company Profile

Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.

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