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Tuesday, September 19, 2023

NYSE:PLT Receives a ‘Hold’ Rating from Several Brokerages

NYSE:PLT has received a rating of ‘hold’ from several of the research firms that are currently covering it. According to MarketBeat, one of the research analysts decided to rate the stock with a recommendation for ‘sale’, while three others have issued a ‘hold’, and three more have recommended a ‘buy’ option for the company. The average price objective for 1 year settled between analysts that have already issued several ratings is $18.40. 

NYSE:PLT has already been the subject of several research analysis reports. Several groups like Zacks Investment Research did upgrade NYSE:PLT from a rating of ‘hold’, to a ‘buy’, where the price target for the company had been set at $22.00- according to a research report that was published on the 5th of August. Sidoti, too, began upgrades of NYSE:PLT from ‘neutral’ to ‘buy’- something that was reported on the 3rd of September. JPMorgan Chase followed suit, upgrading the firm from ‘underweight’, to ‘neutral’- with the target price of $19.00. This move was actually something of a valuation call- as ValuEngine started downgrading NYSE:PLT from ‘buy’ to ‘hold’. 

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The NYSE:PLT stock then opened up at $13.61 on a Friday, and the company started developing a quick ratio of 1.01- and a current ratio of 1.36. The debt-to-equity ratio has been set at 2.76. With a market capitalization of $554.53 million, the firm also has a beta of 1.93, and a PE ratio of -0.65. NYSE:PLT had a 12 month low of $4.60, but the 12 month high was fixed at $42.44. The simple moving average for 50-day for this firm is $12.86, while the simple moving average for 200-day is $13.95.  

The Quarterly Earnings of NYSE:PLT

The quarterly earnings for NYSE:PLT was published on the 28th of July. The company had reported EPS of $0.33 for this quarter, which comprehensively beat the consensus estimate ($0.34). The revenue that this business had was $365 million which was more than the analysts’ sum of $353 million. The firm also had a quite a positive run on its return to equity- 17.30%, with a negative net margin set at 52.48%. Sadly, NYSE:PLT’s revenue for this quarter was almost down by 18.5% when compared to this quarter the previous year. In the same quarter, the firm had earned an EPS around $1.32. On an average the research analysts did anticipate that NYSE:PLT would be posting an EPS of around 0.95 in this year. 

Plantronics (NYSE:PLT) Company Profile

NYSE:PLT has been designing, manufacturing, and dealing in markets integrated communication systems for quite some time now. They also collaborate solutions for certain consumers, and several businesses throughout the world. 

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NYSE:PLT has been quite famous for offering its collaboration solutions and communication settings for voice, content, and video sharing- along with a complete line of support and services for several workplaces that are presently under the brand of Polycom.

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