Logitech International (NASDAQ:LOGI) Releases Earnings Results, Beats Expectations By $0.07 EPS

Logitech International (NASDAQ:LOGI) released its earnings results on Tuesday. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.07, Zacks reports. Logitech International had a return on equity of 30.68% and a net margin of 15.65%.

Logitech International Stock Performance

NASDAQ:LOGI traded up $0.97 during mid-day trading on Tuesday, hitting $92.96. 1,374,265 shares of the stock were exchanged, compared to its average volume of 757,490. The firm’s 50-day simple moving average is $84.11 and its 200 day simple moving average is $85.62. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. Logitech International has a fifty-two week low of $74.72 and a fifty-two week high of $102.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Logitech International from $93.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Wedbush reissued a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research report on Wednesday, January 22nd. Finally, Bank of America cut Logitech International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $114.00 to $92.00 in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and a consensus price target of $95.75.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.