Plantronics (PLT - Free Report) closed the most recent trading day at $13.09, moving -0.76% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.05%. Meanwhile, the Dow lost 1.59%, and the Nasdaq, a tech-heavy index, lost 0.54%.
Investors will be hoping for strength from PLT as it approaches its next earnings release, which is expected to be May 27, 2020. The company is expected to report EPS of $0.07, down 95.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $400.69 million, down 14.47% from the year-ago period.
Investors might also notice recent changes to analyst estimates for PLT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PLT is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that PLT has a Forward P/E ratio of 7.56 right now. This valuation marks a discount compared to its industry's average Forward P/E of 25.7.
The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 52, which puts it in the top 21% 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.