Brokerages Expect Corsair Gaming, Inc. (NASDAQ:CRSR) Will Post Quarterly Sales of $435.91 Million

Equities analysts expect Corsair Gaming, Inc. (NASDAQ:CRSR – Get Rating) to announce $435.91 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Corsair Gaming’s earnings, with the highest sales estimate coming in at $446.00 million and the lowest estimate coming in at $425.81 million. Corsair Gaming reported sales of $472.90 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7.8%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Corsair Gaming will report full-year sales of $1.89 billion for the current financial year, with estimates ranging from $1.87 billion to $1.90 billion. For the next year, analysts expect that the firm will report sales of $2.20 billion, with estimates ranging from $2.15 billion to $2.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Corsair Gaming.

Corsair Gaming (NASDAQ:CRSR – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.21). Corsair Gaming had a return on equity of 15.03% and a net margin of 2.80%. The firm had revenue of $380.69 million during the quarter, compared to the consensus estimate of $390.60 million. During the same period in the previous year, the firm earned $0.56 EPS. The business’s revenue was down 28.1% on a year-over-year basis.

Several analysts recently commented on CRSR shares. Zacks Investment Research lowered Corsair Gaming from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 26th. Barclays cut their price objective on Corsair Gaming from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, February 9th. Stifel Nicolaus lowered their target price on Corsair Gaming from $29.00 to $24.00 in a research report on Friday, April 22nd. Macquarie lowered their target price on Corsair Gaming from $33.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 9th. Finally, DA Davidson lowered their target price on Corsair Gaming from $36.00 to $30.00 in a research report on Friday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.67.

Shares of CRSR opened at $15.00 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.58 and a quick ratio of 0.91. Corsair Gaming has a one year low of $14.12 and a one year high of $42.97. The firm has a market capitalization of $1.43 billion, a P/E ratio of 29.90 and a beta of 1.70. The business has a fifty day moving average of $19.50 and a 200 day moving average of $21.24.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Corsair Gaming by 7.2% in the fourth quarter. BlackRock Inc. now owns 1,839,139 shares of the company’s stock worth $38,641,000 after buying an additional 123,647 shares in the last quarter. Morgan Stanley lifted its position in shares of Corsair Gaming by 110.8% in the third quarter. Morgan Stanley now owns 859,845 shares of the company’s stock worth $22,297,000 after buying an additional 451,949 shares in the last quarter. Millennium Management LLC lifted its position in shares of Corsair Gaming by 1,949.0% in the third quarter. Millennium Management LLC now owns 732,748 shares of the company’s stock worth $19,000,000 after buying an additional 696,987 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Corsair Gaming by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 571,749 shares of the company’s stock worth $12,012,000 after buying an additional 36,111 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Corsair Gaming by 8.3% in the fourth quarter. State Street Corp now owns 501,426 shares of the company’s stock worth $10,535,000 after buying an additional 38,318 shares in the last quarter. Institutional investors and hedge funds own 14.77% of the company’s stock.

Corsair Gaming Company Profile (Get Rating)

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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