We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in Store for Turtle Beach (HEAR) This Earnings Season?
Read MoreHide Full Article
Turtle Beach Corporation (HEAR - Free Report) is scheduled to report third-quarter 2020 results on Nov 5, after the closing bell. In the last reported quarter, the company delivered a positive earnings surprise of 44.8%. Turtle Beach topped the consensus estimate for earnings in each of the trailing four quarters, the positive surprise being 41%, on average.
The San Diego, CA-based audio technology company is expected to have recorded higher revenues on a year-over-year basis, primarily driven by robust demand for headsets as well as ROCCAT line of personal computers (PCs) and keyboards. The ongoing pandemic situation has not only boosted work-from-home trend but has also amplified the demand for gaming gear, thereby bolstering the overall engagement of gaming enthusiasts with utmost ease, likely boosting Turtle Beach’s third-quarter results.
Factors at Play
During the quarter under review, Turtle Beach joined forces with two French gaming influencers — Skyrroz and Inoxtag. The alliance is expected to have boosted ROCCAT’s presence in the French gaming market. It also introduced specialized bundles of next-gen audio headsets and accessories, namely — Atlas Edge, Atlas One and Elite Atlas — to deliver a superior virtual learning and work-from-home experience while effectively tackling the challenges of the pandemic situation. This is likely to be positively reflected in the upcoming results.
Impressively, the leading gaming accessory brand witnessed significant sales growth in July. The company’s best-selling Recon 70 series wired headsets along with recently-introduced Stealth 700 Gen 2 and Stealth 600 Gen 2 wireless gaming headsets positions it well to continue leading in 2020 and beyond.
Further, Turtle Beach’s PC peripheral brand, ROCCAT, launched the Elo series PC gaming headsets and unveiled Titan Optical Switch with three new variants of its Vulcan keyboard series during the quarter. ROCCAT also unveiled Burst Pro PC gaming mouse to offer PC gamers a competitive advantage with high-speed performance. These highlight the strength of its brand amid the backdrop of a record-breaking year for the video game industry. Such developments are likely to have had a positive impact on the company’s third-quarter top line.
For the September quarter, the Zacks Consensus Estimate for total revenues is pegged at $84 million, indicating a 78.7% surge from the year-ago quarter’s reported figure. Adjusted earnings per share are pegged at 25 cents, suggesting an improvement from a loss of 18 cents reported in the prior-year quarter.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Turtle Beach this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Earnings ESP: Turtle Beach’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00% as both are pegged at 25 cents.
Zacks Rank: Turtle Beach currently carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:
Endo International plc is scheduled to release third-quarter 2020 results on Nov 5. The company has an Earnings ESP of +33.34% and carries a Zacks Rank #2, at present.
Redfin Corporation (RDFN - Free Report) has an Earnings ESP of +21.94% and a Zacks Rank of 2. The company is set to report third-quarter 2020 results on Nov 5.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
What's in Store for Turtle Beach (HEAR) This Earnings Season?
Turtle Beach Corporation (HEAR - Free Report) is scheduled to report third-quarter 2020 results on Nov 5, after the closing bell. In the last reported quarter, the company delivered a positive earnings surprise of 44.8%. Turtle Beach topped the consensus estimate for earnings in each of the trailing four quarters, the positive surprise being 41%, on average.
The San Diego, CA-based audio technology company is expected to have recorded higher revenues on a year-over-year basis, primarily driven by robust demand for headsets as well as ROCCAT line of personal computers (PCs) and keyboards. The ongoing pandemic situation has not only boosted work-from-home trend but has also amplified the demand for gaming gear, thereby bolstering the overall engagement of gaming enthusiasts with utmost ease, likely boosting Turtle Beach’s third-quarter results.
Factors at Play
During the quarter under review, Turtle Beach joined forces with two French gaming influencers — Skyrroz and Inoxtag. The alliance is expected to have boosted ROCCAT’s presence in the French gaming market. It also introduced specialized bundles of next-gen audio headsets and accessories, namely — Atlas Edge, Atlas One and Elite Atlas — to deliver a superior virtual learning and work-from-home experience while effectively tackling the challenges of the pandemic situation. This is likely to be positively reflected in the upcoming results.
Impressively, the leading gaming accessory brand witnessed significant sales growth in July. The company’s best-selling Recon 70 series wired headsets along with recently-introduced Stealth 700 Gen 2 and Stealth 600 Gen 2 wireless gaming headsets positions it well to continue leading in 2020 and beyond.
Further, Turtle Beach’s PC peripheral brand, ROCCAT, launched the Elo series PC gaming headsets and unveiled Titan Optical Switch with three new variants of its Vulcan keyboard series during the quarter. ROCCAT also unveiled Burst Pro PC gaming mouse to offer PC gamers a competitive advantage with high-speed performance. These highlight the strength of its brand amid the backdrop of a record-breaking year for the video game industry. Such developments are likely to have had a positive impact on the company’s third-quarter top line.
For the September quarter, the Zacks Consensus Estimate for total revenues is pegged at $84 million, indicating a 78.7% surge from the year-ago quarter’s reported figure. Adjusted earnings per share are pegged at 25 cents, suggesting an improvement from a loss of 18 cents reported in the prior-year quarter.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Turtle Beach this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Earnings ESP: Turtle Beach’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00% as both are pegged at 25 cents.
Turtle Beach Corporation Price and EPS Surprise
Turtle Beach Corporation price-eps-surprise | Turtle Beach Corporation Quote
Zacks Rank: Turtle Beach currently carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:
Chuy's Holdings, Inc. (CHUY - Free Report) is slated to release third-quarter 2020 results on Nov 5. It has an Earnings ESP of +35.62% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Endo International plc is scheduled to release third-quarter 2020 results on Nov 5. The company has an Earnings ESP of +33.34% and carries a Zacks Rank #2, at present.
Redfin Corporation (RDFN - Free Report) has an Earnings ESP of +21.94% and a Zacks Rank of 2. The company is set to report third-quarter 2020 results on Nov 5.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>