Turtle Beach Corporation, Together With The Donerail Group, Announces $20 Million Share Repurchase From Shareholder
Share Repurchase Announcement: Turtle Beach Corporation has agreed to repurchase 694,926 shares of its common stock from Diversis Capital for approximately $10 million, reflecting confidence in the company's long-term strategy and value creation.
Investment by The Donerail Group: Concurrently, The Donerail Group acquired nearly the same number of shares from Diversis, indicating a strong belief in Turtle Beach's potential as it continues to enhance shareholder value through strategic capital allocation.
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Roth Capital Reaffirms Buy Rating for Turtle Beach, Adjusts Price Target to $20
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Turtle Beach (TBCH) Falls Short of Q3 Earnings and Revenue Projections
Earnings Performance: Turtle Beach (TBCH) reported quarterly earnings of $0.08 per share, missing the Zacks Consensus Estimate of $0.15, and showing a decline from $0.16 per share a year ago. The company has surpassed consensus EPS estimates twice in the last four quarters.
Revenue Results: The company posted revenues of $80.46 million for the quarter, slightly missing the Zacks Consensus Estimate and down from $94.36 million year-over-year. Turtle Beach has only topped revenue estimates once in the last four quarters.
Stock Outlook: Turtle Beach shares have decreased by 8.3% since the start of the year, contrasting with the S&P 500's 15.6% gain. The stock currently holds a Zacks Rank #3 (Hold), indicating expected performance in line with the market.
Industry Context: The Computer - Peripheral Equipment industry ranks in the top 11% of Zacks industries, suggesting a favorable outlook. Investors are advised to monitor earnings estimate revisions, which can significantly influence stock performance.
