Focusrite (LON:TUNE) Posts Earnings Results

Focusrite (LON:TUNE) issued its quarterly earnings results on Tuesday. The company reported GBX 13.20 EPS for the quarter, Digital Look Earnings reports. The business had revenue of GBX 9,034 million during the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%.

Focusrite Stock Up 5.1%

LON:TUNE opened at GBX 230.10 on Tuesday. The business’s fifty day moving average price is GBX 244.68 and its 200 day moving average price is GBX 221.70. The firm has a market capitalization of £135.22 million, a price-to-earnings ratio of 25.57, a PEG ratio of 2.95 and a beta of 1.12. The company has a current ratio of 3.53, a quick ratio of 0.77 and a debt-to-equity ratio of 26.31. Focusrite has a 1-year low of GBX 155 and a 1-year high of GBX 283.95.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 price objective on shares of Focusrite in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 355.

About Focusrite

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound.

We are a rapidly growing group of innovative, market-leading brands, operating across two divisions.

Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.