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Turtle Beach (HEAR) shares ended the last trading session 8.8% higher at $16.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.6% gain over the past four weeks.
The uptrend in shares is largely attributable to its expansion in key international markets, including Canada, Mexico, Colombia, and Chile. Turtle Beach has brought all the latest gaming accessories to Canada to enable subscribers to avail of more gaming options through retail stores or online. The company has also strengthened its presence in Mexico and Colombia by launching some of its latest gaming accessories across various retail stores. In addition, Turtle Beach is set to make inroads in Chile by introducing a variety of proven, top-performing accessories to gamers in the Latin American country.
This audio technology company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +185.7%. Revenues are expected to be $87.8 million, up 48.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Turtle Beach, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HEAR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Turtle Beach belongs to the Zacks Computer - Peripheral Equipment industry. Another stock from the same industry, Immersion (IMMR), closed the last trading session 2.8% higher at $8.54. Over the past month, IMMR has returned -6.4%.
Immersion's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.15. Compared to the company's year-ago EPS, this represents a change of +87.5%. Immersion currently boasts a Zacks Rank of #1 (Strong Buy).
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Turtle Beach Corporation (HEAR) : Free Stock Analysis Report