Turtle Beach (HEAR - Free Report) closed at $15.22 in the latest trading session, marking a +0.93% move from the prior day. This move outpaced the S&P 500's daily gain of 0.85%. At the same time, the Dow added 0.75%, and the tech-heavy Nasdaq gained 1.29%.
Prior to today's trading, shares of the audio technology company had gained 3.36% over the past month. This has lagged the Computer and Technology sector's gain of 11.25% and the S&P 500's gain of 12.44% in that time.
HEAR will be looking to display strength as it nears its next earnings release, which is expected to be March 5, 2019. On that day, HEAR is projected to report earnings of $1.04 per share, which would represent a year-over-year decline of 10.34%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $94.33 million, up 18.36% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. HEAR is currently a Zacks Rank #2 (Buy).
Digging into valuation, HEAR currently has a Forward P/E ratio of 8.5. This represents a discount compared to its industry's average Forward P/E of 20.84.
We can also see that HEAR currently has a PEG ratio of 0.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Communication - Components was holding an average PEG ratio of 1.63 at yesterday's closing price.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
To follow HEAR in the coming trading sessions, be sure to utilize Zacks.com.