Reported Earnings • Aug 12
First quarter 2023 earnings released: US$0.76 loss per share (vs US$0.88 loss in 1Q 2022) First quarter 2023 results: US$0.76 loss per share (up from US$0.88 loss in 1Q 2022). Revenue: US$415.6m (down 3.6% from 1Q 2022). Net loss: US$33.1m (loss narrowed 10% from 1Q 2022). Over the next year, revenue is forecast to grow 6.6%, compared to a 7.9% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jun 28
Price target increased to US$40.00 Up from US$36.60, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of US$39.66. The company is forecast to post earnings per share of US$0.057 for next year compared to US$0.42 last year. Major Estimate Revision • Jun 07
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from US$0.50 to US$0.06 per share. Revenue forecast steady at US$1.75b. Net income forecast to shrink 86% next year vs 18% growth forecast for Communications industry in the US . Consensus price target of US$37.67 unchanged from last update. Share price was steady at US$39.54 over the past week. Reported Earnings • May 28
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$0.42 (up from US$1.40 loss in FY 2021). Revenue: US$1.68b (down 2.7% from FY 2021). Net income: US$17.9m (up US$75.2m from FY 2021). Profit margin: 1.1% (up from net loss in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 52%. Over the next year, revenue is forecast to grow 4.8%, compared to a 7.7% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 28
Price target increased to US$38.75 Up from US$34.60, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of US$39.99. Stock is up 8.6% over the past year. The company is forecast to post earnings per share of US$0.85 next year compared to a net loss per share of US$1.40 last year. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 17% share price gain to US$27.49, the stock trades at a forward P/E ratio of 63x. Average forward P/E is 31x in the Communications industry in the US. Total loss to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to US$24.69, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 31x in the Communications industry in the US. Total loss to shareholders of 49% over the past three years. Reported Earnings • Feb 11
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: US$0.26 loss per share (down from US$0.49 profit in 3Q 2021). Revenue: US$409.6m (down 16% from 3Q 2021). Net loss: US$11.2m (down 156% from profit in 3Q 2021). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 145%. Over the next year, revenue is forecast to stay flat compared to a 9.0% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Price Target Changed • Feb 10
Price target increased to US$36.60 Up from US$34.00, the current price target is an average from 5 analysts. New target price is 26% above last closing price of US$28.94. Stock is down 35% over the past year. The company is forecast to post earnings per share of US$0.77 next year compared to a net loss per share of US$1.40 last year. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 18% share price gain to US$29.00, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 36x in the Communications industry in the US. Total loss to shareholders of 24% over the past three years. Recent Insider Transactions Derivative • Nov 06
Independent Director notifies of intention to sell stock Guido Karel Jouret intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of November. If the sale is conducted around the recent share price of US$28.34, it would amount to US$77k. Since June 2021, Guido Karel has owned 10.39k shares directly. Company insiders have collectively bought US$163k more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 36% share price gain to US$32.24, the stock trades at a forward P/E ratio of 63x. Average forward P/E is 32x in the Communications industry in the US. Total loss to shareholders of 44% over the past three years. Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS US$2.28 (vs US$0.33 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: US$419.0m (up 2.0% from 2Q 2021). Net income: US$96.8m (up US$110.2m from 2Q 2021). Profit margin: 23% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Price Target Changed • Oct 30
Price target decreased to US$36.50 Down from US$40.83, the current price target is an average from 6 analysts. New target price is 36% above last closing price of US$26.76. Stock is up 37% over the past year. The company is forecast to post a net loss per share of US$1.14 next year compared to a net loss per share of US$1.40 last year. Recent Insider Transactions • Sep 12
President recently bought US$105k worth of stock On the 7th of September, David Shull bought around 4k shares on-market at roughly US$30.00 per share. This was the largest purchase by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Breakeven Date Change • Jul 31
Forecast breakeven pushed back to 2023 The 4 analysts covering Plantronics previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 32% to 2022. The company is expected to make a profit of US$34.4m in 2023. Average annual earnings growth of 95% is required to achieve expected profit on schedule. Price Target Changed • Jul 31
Price target decreased to US$40.40 Down from US$44.17, the current price target is an average from 6 analysts. New target price is 30% above last closing price of US$31.19. Stock is up 56% over the past year. Reported Earnings • Jul 31
First quarter 2022 earnings released: US$0.88 loss per share (vs US$1.85 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: US$431.2m (up 21% from 1Q 2021). Net loss: US$36.8m (loss narrowed 51% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Executive Departure • Jun 16
Executive VP & GM of Products Thomas Puorro has left the company On the 15th of June, Thomas Puorro's tenure as Executive VP & GM of Products ended after 2.5 years in the role. As of March 2021, Thomas still personally held 56.53k shares (US$2.2m worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 1.83 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • May 15
Full year 2021 earnings released: US$1.40 loss per share (vs US$20.86 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: US$1.73b (up 1.8% from FY 2020). Net loss: US$57.3m (loss narrowed 93% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS US$0.49 (vs US$1.97 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$484.7m (up 26% from 3Q 2020). Net income: US$20.1m (up US$98.6m from 3Q 2020). Profit margin: 4.1% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 98% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Price Target Changed • Feb 06
Price target raised to US$40.50 Up from US$29.67, the current price target is an average from 6 analysts. The new target price is close to the current share price of US$41.85. As of last close, the stock is up 178% over the past year. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is expected to shrink by 1.2% compared to a 4.2% growth forecast for the Communications industry in the US. Is New 90 Day High Low • Feb 03
New 90-day high: US$33.59 The company is up 44% from its price of US$23.31 on 04 November 2020. The American market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$51.39 per share. Is New 90 Day High Low • Jan 06
New 90-day high: US$30.08 The company is up 121% from its price of US$13.61 on 08 October 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$49.17 per share. Is New 90 Day High Low • Nov 24
New 90-day high: US$25.50 The company is up 62% from its price of US$15.73 on 25 August 2020. The American market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$35.76 per share. Is New 90 Day High Low • Nov 03
New 90-day high: US$21.87 The company is up 12% from its price of US$19.47 on 05 August 2020. The American market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is down 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$33.52 per share. Reported Earnings • Oct 31
First half earnings released Over the last 12 months the company has reported total losses of US$844.8m, with losses widening by US$708.8m from the prior year. Total revenue was US$1.55b over the last 12 months, down 17% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 31
Second-quarter earnings released: Revenue and earnings beat expectations Second-quarter revenue exceeded analyst estimates by 9.6% at US$411.0m. Earnings per share (EPS) also surpassed analyst estimates by 31% at -US$0.33. Revenue is forecast to grow 2.4% over the next year, while the growth in Communications industry in the US is expected to stay flat. Price Target Changed • Oct 30
Price target raised to US$20.00 Up from US$18.50, the current price target is an average from 6 analysts. The new target price is 5.3% above the current share price of US$18.99. As of last close, the stock is down 53% over the past year. Is New 90 Day High Low • Sep 24
New 90-day low: US$11.18 The company is down 18% from its price of US$13.59 on 26 June 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$23.37 per share.