Logitech Earnings Call Highlights
Source: Getty Images

Logitech Posts Strong Q2 Results, Stock Up 20 Percent

By

Updated

Today, Logitech stock has surged more than 21 percent in premarket trading after the company released its earnings results for fiscal 2021's second quarter (ended Sept. 30). Logitech's quarterly sales and earnings beat analysts’ average estimates.

Article continues below advertisement
Logitech Earnings Call Highlights
Source: Pixabay

When did Logitech report its earnings?

Logitech reported its fiscal 2021 second-quarter results yesterday at 9.00 p.m. ET. The computer peripheral maker will hold its earnings call today at 8:30 a.m. ET. Investors and financial analysts can access a live stream of the event on the company’s investor relations website.

Article continues below advertisement

Logitech’s earnings report highlights

In the second quarter, Logitech reported adjusted EPS of $1.87, compared with $0.50 in the second quarter of fiscal 2020. The adjusted EPS beat analysts’ average estimate of $1.70. Logitech generated sales of $1.26 billion in the second quarter, which were 74.7 percent higher than in the second quarter of fiscal 2020. The company also beat analysts’ average sales estimate of $1.14 billion. The company benefited from the shift to working from home amid the coronavirus pandemic.

Logitech hiked its 2021 annual sales outlook. The company now expects its annual revenue to rise 35–40 percent in constant currency, up from its earlier view of 10–13 percent.

Article continues below advertisement

In Logitech's press release, CEO Bracken Darrell said, “The growth trends that drive our business have accelerated as society adjusts to its new reality. The organization leaders I speak to envision people increasingly working from multiple locations, a hybrid work culture that is emerging as the norm.”

What is Logitech’s stock price today?

Logitech stock was up about 21.2 percent at $97 in premarket trading today as of 4:22 a.m. ET. The stock rose 0.3 percent on Oct. 19 and closed at $80.03 with a market capitalization of $13.5 billion.

Article continues below advertisement

Logitech stock has fallen by 0.8 percent in the last five days, but has risen by 100.1 percent in the last year. The stock is trading 2.1 percent below its 52-week high of $81.74 and 155.1 percent above its 52-week low of $31.37.

Article continues below advertisement

What is Logitech’s dividend yield?

As of Oct. 19, Logitech’s dividend yield was 1.08 percent. Currently, the company pays an annual dividend of $0.87 per share. In the second quarter of fiscal 2021, Logitech distributed $146.7 million in cash dividends to shareholders, compared with $124.2 million in the same quarter a year ago.

What is Logitech’s stock forecast?

According to data compiled by TipRanks, four of the six analysts covering Logitech have a "buy" or equivalent rating on Logitech. The other two analysts have a "hold" rating, and none recommend "sell." Currently, analysts' average stock price forecast for Logitech is $76.94, which suggests a 3.9 percent downside. Their highest target price of $83.51 indicates a 4.3 percent upside, while their lowest target of $58.24 indicates a 27.2 percent downside.

Advertisement

More From Market Realist