Economy

Plantronics Shares Cross Above 200 DMA

Plantronics, Inc. (NYSE:PLT) updated its third quarter earnings guidance on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock.

A number of research analysts recently weighed in on the stock. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets. In addition, the company manufactures and markets specialty telephone products, such as amplified telephone handsets and specialty telephones for hearing-impaired users, and noise-canceling handsets for use in high-noise environments. In the last earnings report the EPS was $2.46 and is expected to be $2.85 for the current year with 32,506,000 shares now outstanding. TheStreet upgraded Plantronics from a hold rating to a buy rating in a research report on Wednesday, August 3rd. (NYSE:PLT) are experiencing unusual volume during today's trading. (Symbol: PLT) crossed above their 200 day moving average of $50.53, changing hands as high as $53.34 per share. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 24.80 and a beta of 1.56. Plantronics Inc (NYSE:PLT) has risen 26.11% since November 1, 2016 and is uptrending. Next quarter's EPS is estimated at $0.76 with next year's EPS anticipated to be $3.14. The company issued revenue guidance of $215-225 million, compared to the consensus revenue estimate of $223.45 million.

Foundry Partners Llc increased Plantronics (PLT) stake by 6.41% reported in 2017Q2 SEC filing. They expect $0.75 earnings per share, up 20.97% or $0.13 from last year's $0.62 per share. Plantronics, Inc. shares are now trading up about 15.3% on the day.

Plantronics, Inc. also declared a dividend which was paid on Friday September 8th, 2017. The dividend payment was $0.150 per share for the quarter or $0.60 annualized. The ex-dividend date is Wednesday, November 16th. Plantronics has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings.

In related news, Director Brian S. Dexheimer sold 4,000 shares of the business's stock in a transaction on Thursday, August 18th. The stock now has a consensus rating of Hold and a consensus target price of $60.00. Select Equity Group Lp sold 634,453 shares as Idexx Labs Inc (IDXX)'s stock rose 13.64%. The 50 day moving average was up $8.59 and the 200 day average was up $4.17. Barrow Hanley Mewhinney & Strauss Limited Liability Company owns 0.01% invested in Plantronics Inc (NYSE:PLT) for 145,242 shares. The disclosure for this sale can be found here. Including today's unusual volume, Plantronics, Inc.'s stock is performing at -17.17% on the year. The stock of Plantronics Inc (NYSE:PLT) earned "Buy" rating by Northland Capital on Monday, September 11. State Street Corp lifted its position in shares of Plantronics by 3.2% in the second quarter. BlackRock Inc. now owns 3,456,643 shares of the technology company's stock valued at $187,037,000 after purchasing an additional 3,441,769 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Plantronics by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 669,245 shares of the company's stock worth $34,774,000 after buying an additional 112,508 shares in the last quarter. Whittier Trust Co Of Nevada Inc bolstered its position by buying 186 shares an increase of 4.3% as of 09/30/2017. Principal Financial Group Inc. now owns 572,009 shares of the company's stock worth $29,722,000 after buying an additional 31,318 shares in the last quarter.



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