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Zebra Technologies (ZBRA) on Thursday beat Wall Street's sales and earnings targets for the fourth quarter. Zebra earnings guidance also was strong. Early Thursday, Zebra stock broke out to a buy zone and record high.
The Lincolnshire, Ill.-based maker of asset tracking technology earned an adjusted $3.10 a share on sales of $1.14 billion in the December quarter. Analysts expected Zebra earnings of $2.93 a share on sales of $1.12 billion. On a year-over-year basis, earnings per share rose 33% while sales climbed 11%.
Zebra - Stock - % - Morning - Trading
Zebra stock surged 6.9%, near 196.68, in morning trading on the stock market today. It moved past a 184.85 buy point out of a 14-week consolidation period. In intraday trading, Zebra stock notched an all-time high of 197.39.
The relative strength line for Zebra stock has been carving new highs in a bullish sign. It has an IBD Relative Strength Rating of 93, meaning it has outperformed 93% of stocks in the past 12 months.
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Quarter - Zebra - Share - Sales - Midpoint
For the current quarter, Zebra expects to earn an adjusted $2.85 a share on sales of $1.05 billion. That's based on the midpoint of guidance. Wall Street was modeling Zebra earnings of $2.69 a share on sales of $1.04 billion in the March quarter.
"Our momentum continues into 2019 with our leading portfolio of solutions and strong order backlog," Chief Executive Anders Gustafsson said in a news release. "We are well-positioned...
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