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Turtle Beach (HEAR) Gains But Lags Market: What You Should Know

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Turtle Beach (HEAR - Free Report) closed the most recent trading day at $18.52, moving +0.49% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.24%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.35%.

Heading into today, shares of the audio technology company had gained 25.2% over the past month, outpacing the Computer and Technology sector's gain of 6.24% and the S&P 500's gain of 7.09% in that time.

Wall Street will be looking for positivity from HEAR as it approaches its next earnings report date. This is expected to be August 6, 2020. In that report, analysts expect HEAR to post earnings of $0.29 per share. This would mark year-over-year growth of 583.33%. Our most recent consensus estimate is calling for quarterly revenue of $75.55 million, up 82.8% from the year-ago period.

HEAR's full-year Zacks Consensus Estimates are calling for earnings of $0.56 per share and revenue of $261.80 million. These results would represent year-over-year changes of -46.15% and +11.56%, respectively.

Investors might also notice recent changes to analyst estimates for HEAR. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HEAR currently has a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that HEAR has a Forward P/E ratio of 32.91 right now. Its industry sports an average Forward P/E of 28.99, so we one might conclude that HEAR is trading at a premium comparatively.

The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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