Plantronics Inc (NYSE:PLT) has earned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $70.00.
A number of research firms have recently weighed in on PLT. Sidoti set a $83.00 target price on Plantronics and gave the company a “buy” rating in a research report on Wednesday. Cowen began coverage on Plantronics in a research report on Tuesday, May 28th. They set an “outperform” rating and a $67.00 target price for the company. Finally, Northland Securities reiterated a “buy” rating and set a $85.00 target price on shares of Plantronics in a research report on Thursday, March 21st.
In related news, insider Charles D. Boynton bought 2,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average cost of $42.80 per share, for a total transaction of $85,600.00. Following the transaction, the insider now owns 36,611 shares in the company, valued at approximately $1,566,950.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeff Loebbaka sold 1,334 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $44.03, for a total value of $58,736.02. Following the sale, the insider now owns 39,292 shares of the company’s stock, valued at $1,730,026.76. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
PLT opened at $38.17 on Friday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 11.52 and a beta of 1.62. Plantronics has a 1 year low of $30.90 and a 1 year high of $82.28. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 2.27.
Plantronics (NYSE:PLT) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.22. The business had revenue of $488.00 million during the quarter, compared to the consensus estimate of $481.43 million. Plantronics had a positive return on equity of 19.98% and a negative net margin of 8.10%. The firm’s quarterly revenue was up 125.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. On average, research analysts expect that Plantronics will post 5.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. Plantronics’s payout ratio is 15.00%.
Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.
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