SANTA CRUZ, Calif., October 14, 2019 – Shares of Plantronics Inc. (NYSE: PLT) surged 6.60% to $35.03. The stock grabbed the investor’s attention and traded 256.280K shares as compared to its average daily volume of 462.35K shares. The stock’s institutional ownership stands at 98.76%.
Plantronics Inc. (PLT) reported a fiscal fourth-quarter loss of $21.60M, after reporting a profit in the same period a year earlier. On a per-share basis, the Santa Cruz, California-based company said it had a loss of 55 cents. Earnings, adjusted for one-time gains and costs, were $1.44 per share. The headset maker posted revenue of $468.50M in the period.
For the year, the company reported that its loss widened to $135.60M, or $3.61 per share. Revenue was reported as $1.67B. For the current quarter ending in July, Plantronics expects its per-share earnings to range from $1.15 to $1.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.30. The company said it expects revenue in the range of $471.0M to $501.0M for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $510.50M.
PLT has a market value of $1.30B while its EPS was booked as $-5.05 in the last 12 months. The stock has 37.13M shares outstanding. In the profitability analysis, the company has gross profit margin of 41.90% while net profit margin was -10.30%. Beta value of the company was 1.56; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 1.80.