Logitech International SA (LOGI) Expected to Post Earnings of $0.35 Per Share

Wall Street brokerages expect Logitech International SA (NASDAQ:LOGI) to post $0.35 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Logitech International’s earnings, with estimates ranging from $0.33 to $0.37. Logitech International reported earnings per share of $0.34 in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The business is expected to report its next earnings report on Monday, July 29th.

On average, analysts expect that Logitech International will report full year earnings of $2.13 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.16. For the next year, analysts expect that the firm will post earnings of $2.39 per share, with EPS estimates ranging from $2.30 to $2.55. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Logitech International.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. Logitech International had a net margin of 9.24% and a return on equity of 26.79%. The firm had revenue of $624.31 million for the quarter, compared to the consensus estimate of $619.43 million.

LOGI has been the subject of a number of analyst reports. BidaskClub raised Logitech International from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Zacks Investment Research raised Logitech International from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, April 2nd. Finally, Maxim Group reaffirmed a “hold” rating and issued a $34.00 price target on shares of Logitech International in a report on Monday, March 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $45.29.

In other news, CFO Vincent Pilette sold 109,181 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $40.36, for a total transaction of $4,406,545.16. Following the completion of the transaction, the chief financial officer now directly owns 194,380 shares in the company, valued at approximately $7,845,176.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Logitech International in the 4th quarter valued at approximately $110,282,000. Marshall Wace LLP grew its stake in Logitech International by 274.9% in the first quarter. Marshall Wace LLP now owns 1,151,796 shares of the technology company’s stock valued at $45,142,000 after acquiring an additional 844,530 shares during the period. Bank of New York Mellon Corp grew its stake in Logitech International by 54.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,280,706 shares of the technology company’s stock valued at $40,060,000 after acquiring an additional 453,782 shares during the period. Jane Street Group LLC grew its stake in Logitech International by 1,620.0% in the fourth quarter. Jane Street Group LLC now owns 340,451 shares of the technology company’s stock valued at $10,726,000 after acquiring an additional 320,657 shares during the period. Finally, Pennsylvania Trust Co acquired a new stake in Logitech International in the first quarter valued at approximately $35,862,000. Institutional investors own 32.84% of the company’s stock.

Shares of NASDAQ LOGI traded down $0.43 during midday trading on Friday, reaching $36.52. 2,882 shares of the company traded hands, compared to its average volume of 184,641. The stock has a market cap of $6.07 billion, a PE ratio of 20.97, a PEG ratio of 2.19 and a beta of 1.19. Logitech International has a 12 month low of $29.06 and a 12 month high of $49.96.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.

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Earnings History and Estimates for Logitech International (NASDAQ:LOGI)

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