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Strength Seen in Turtle Beach (HEAR): Can Its 9.4% Jump Turn into More Strength?
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Turtle Beach (HEAR - Free Report) shares ended the last trading session 9.4% higher at $8.88. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.9% gain over the past four weeks.
The company has created a buzz in the market with the introduction of its new flagship wireless multiplatform gaming headset – the Turtle Beach Stealth Pro. This gaming headset is compatible for gaming on Xbox, PlayStation, Windows PCs, Mac, Nintendo Switch and mobile devices. It will enable gamers to experience the highest-quality gaming audio through a hand-matched set of Turtle Beach’s large and powerful signature 50mm Nanoclear drivers that offers 56% more surface area for more bass and a vast, immersive soundstage.
Stealth Pro also offers the most effective noise-cancellation in a gaming headset and provides gamers the choice of using its dual built-in mics or the removable TruSpeak boom mic. This travel-friendly gaming headset saves all the personalized settings in the app and is likely to outsmart competition in most of its compelling features. The Stealth Pro is available for pre-order at the company website and participating retailers worldwide for $329.99.
This audio technology company is expected to post quarterly loss of $0.44 per share in its upcoming report, which represents a year-over-year change of -12.8%. Revenues are expected to be $45.35 million, down 2.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Turtle Beach, the consensus EPS estimate for the quarter has been revised 2.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HEAR going forward to see if this recent jump can turn into more strength down the road.
Turtle Beach is part of the Zacks Communication - Components industry. Altice USA, Inc. (ATUS - Free Report) , another stock in the same industry, closed the last trading session 5.2% lower at $3.09. ATUS has returned -24.9% in the past month.
Altice USA, Inc.'s consensus EPS estimate for the upcoming report has changed -74.3% over the past month to $0.05. Compared to the company's year-ago EPS, this represents a change of -88.4%. Altice USA, Inc. currently boasts a Zacks Rank of #5 (Strong Sell).
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Strength Seen in Turtle Beach (HEAR): Can Its 9.4% Jump Turn into More Strength?
Turtle Beach (HEAR - Free Report) shares ended the last trading session 9.4% higher at $8.88. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.9% gain over the past four weeks.
The company has created a buzz in the market with the introduction of its new flagship wireless multiplatform gaming headset – the Turtle Beach Stealth Pro. This gaming headset is compatible for gaming on Xbox, PlayStation, Windows PCs, Mac, Nintendo Switch and mobile devices. It will enable gamers to experience the highest-quality gaming audio through a hand-matched set of Turtle Beach’s large and powerful signature 50mm Nanoclear drivers that offers 56% more surface area for more bass and a vast, immersive soundstage.
Stealth Pro also offers the most effective noise-cancellation in a gaming headset and provides gamers the choice of using its dual built-in mics or the removable TruSpeak boom mic. This travel-friendly gaming headset saves all the personalized settings in the app and is likely to outsmart competition in most of its compelling features. The Stealth Pro is available for pre-order at the company website and participating retailers worldwide for $329.99.
This audio technology company is expected to post quarterly loss of $0.44 per share in its upcoming report, which represents a year-over-year change of -12.8%. Revenues are expected to be $45.35 million, down 2.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Turtle Beach, the consensus EPS estimate for the quarter has been revised 2.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HEAR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Turtle Beach is part of the Zacks Communication - Components industry. Altice USA, Inc. (ATUS - Free Report) , another stock in the same industry, closed the last trading session 5.2% lower at $3.09. ATUS has returned -24.9% in the past month.
Altice USA, Inc.'s consensus EPS estimate for the upcoming report has changed -74.3% over the past month to $0.05. Compared to the company's year-ago EPS, this represents a change of -88.4%. Altice USA, Inc. currently boasts a Zacks Rank of #5 (Strong Sell).