Brokerages expect Corsair Gaming, Inc. (NASDAQ:CRSR) to announce sales of $488.47 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Corsair Gaming’s earnings, with the lowest sales estimate coming in at $476.90 million and the highest estimate coming in at $500.03 million. Corsair Gaming posted sales of $556.34 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.2%. The firm is scheduled to announce its next earnings report on Tuesday, February 8th.
According to Zacks, analysts expect that Corsair Gaming will report full year sales of $1.88 billion for the current financial year, with estimates ranging from $1.87 billion to $1.89 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.06 billion, with estimates ranging from $2.05 billion to $2.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Corsair Gaming.
Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Tuesday, November 2nd. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). The company had revenue of $391.12 million during the quarter, compared to analysts’ expectations of $391.20 million. Corsair Gaming had a return on equity of 30.59% and a net margin of 6.12%. During the same quarter last year, the company earned $0.52 earnings per share.
CRSR has been the subject of several analyst reports. Cowen reduced their price objective on Corsair Gaming from $37.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, October 18th. Zacks Investment Research upgraded Corsair Gaming from a “strong sell” rating to a “hold” rating in a research note on Tuesday. DA Davidson cut their price target on Corsair Gaming from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, October 26th. Robert W. Baird lowered Corsair Gaming from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $29.00 in a research note on Friday, October 15th. Finally, Barclays cut their price target on Corsair Gaming from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, November 3rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.56.
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NASDAQ:CRSR opened at $20.77 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.49 and a quick ratio of 0.79. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 17.31 and a beta of 2.00. Corsair Gaming has a one year low of $20.05 and a one year high of $49.60. The business has a fifty day moving average price of $22.97 and a 200-day moving average price of $26.44.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. boosted its holdings in shares of Corsair Gaming by 7.2% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 18,129 shares of the company’s stock valued at $470,000 after purchasing an additional 1,223 shares during the last quarter. Moors & Cabot Inc. bought a new stake in Corsair Gaming during the third quarter worth approximately $941,000. Patriot Financial Group Insurance Agency LLC raised its position in Corsair Gaming by 21.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 4,830 shares of the company’s stock valued at $125,000 after purchasing an additional 850 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Corsair Gaming by 24.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 107,231 shares of the company’s stock valued at $2,780,000 after purchasing an additional 20,822 shares during the last quarter. Finally, Aurora Investment Counsel boosted its holdings in shares of Corsair Gaming by 26.9% in the 3rd quarter. Aurora Investment Counsel now owns 22,425 shares of the company’s stock worth $581,000 after purchasing an additional 4,755 shares during the period. 73.51% of the stock is owned by institutional investors and hedge funds.
Corsair Gaming Company Profile
Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.
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