News to Watch: Turtle Beach Corporation (NASDAQ:HEAR)

Turtle Beach Corporation (NASDAQ:HEAR) spotted trading -57.74% off 52-week high price. On the other end, the stock has been noted 3.35% away from the low price over the last 52-weeks. The stock changed 0.88% to recent value of $8.03. The stock transacted 150743 shares during most recent day however it has an average volume of 319.62K shares. The company has 14.64M of outstanding shares and 12.50M shares were floated in the market.

On Feb. 12, 2020, Turtle Beach Corporation (NASDAQ:HEAR) a leading gaming audio and accessory brand, is providing selected preliminary unaudited fourth quarter and full-year 2019 results.

Based on preliminary unaudited information, Turtle Beach expects to report fourth quarter 2019 sales between $100 million and $102 million compared to $111.3 million reported in the fourth quarter of 2018. For the full year 2019, sales are expected to be between $233 million and $235 million compared to $287.4 million in 2018.

Our 2019 sales were the second highest in Turtle Beach’s history and played out very close to our expectations throughout 2019, said Juergen Stark, CEO, Turtle Beach. While last year’s performance was strong, headset sales in 2018 saw an extraordinary surge thanks to the popularity of Battle Royale games, which led to an overall decline in 2019 sales, as anticipated.

Consistent with the initial outlook we provided in March of last year, full year industry-wide retail sales of console headsets were down 21% in 2019. According to NPD, our North America market share was 43.4% in 2019, down slightly from 45.7% in 2018 as expected. We continued to lead the market with our 2019 share higher than that of the next three largest console headset makers combined.1 With the acquisition of ROCCAT in May of 2019, our expansion into the PC gaming accessories market showed strong year-over-year revenue growth.

Its earnings per share (EPS) expected to touch remained 399.20% for this year while earning per share for the next 5-years is expected to reach at 18.00%. HEAR has a gross margin of 35.20% and an operating margin of 9.10% while its profit margin remained 5.60% for the last 12 months.

According to the most recent quarter its current ratio was 1.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of -3.50% from the mean of 20 days, -6.60% from mean of 50 days SMA and performed -17.37% from mean of 200 days price. Company’s performance for the week was 1.52%, -5.64% for month and YTD performance remained -15.03%.

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