Wedbush Comments on Buckle Inc.’s Q3 2017 Earnings (BKE)
Buckle Inc. (NYSE:BKE) – Equities research analysts at Wedbush reduced their Q3 2017 earnings per share (EPS) estimates for shares of Buckle in a report issued on Friday. Wedbush analyst M. Brown now anticipates that the brokerage will post earnings of $0.55 per share for the quarter, down from their previous estimate of $0.57. Wedbush has a “Neutral” rating and a $21.00 price target on the stock. Wedbush also issued estimates for Buckle’s Q4 2017 earnings at $0.91 EPS, FY2017 earnings at $2.27 EPS, Q1 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.92 EPS, FY2018 earnings at $2.26 EPS and FY2019 earnings at $2.27 EPS.
Buckle (NYSE:BKE) last issued its earnings results on Friday, August 19th. The company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.04. The company earned $212.20 million during the quarter. Buckle had a return on equity of 30.53% and a net margin of 12.06%. Buckle’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS.
Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Buckle from a “strong sell” rating to a “hold” rating in a research report on Monday, July 25th. KeyCorp restated an “equal weight” rating on shares of Buckle in a research report on Sunday, June 26th. Finally, Deutsche Bank AG restated a “sell” rating and set a $22.00 price target on shares of Buckle in a research report on Tuesday, July 5th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $29.80.
Buckle (NYSE:BKE) opened at 21.20 on Monday. Buckle has a 1-year low of $20.85 and a 1-year high of $36.73. The company has a market capitalization of $1.02 billion, a P/E ratio of 7.92 and a beta of 1.20. The stock’s 50 day moving average is $24.86 and its 200-day moving average is $26.60.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Wednesday, October 12th. Buckle’s dividend payout ratio (DPR) is 37.45%.
In other news, VP Kyle Hanson sold 5,400 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $26.13, for a total value of $141,102.00. Following the sale, the vice president now directly owns 25,400 shares of the company’s stock, valued at approximately $663,702. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kelli D. Molczyk sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $26.71, for a total transaction of $106,840.00. Following the completion of the sale, the vice president now directly owns 21,163 shares in the company, valued at $565,263.73. The disclosure for this sale can be found here. 41.80% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Buckle by 14.1% in the second quarter. FMR LLC now owns 7,271,631 shares of the company’s stock valued at $188,990,000 after buying an additional 896,298 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Buckle by 37.0% in the second quarter. Schroder Investment Management Group now owns 1,931,983 shares of the company’s stock valued at $50,212,000 after buying an additional 522,000 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Buckle by 3.5% in the second quarter. BlackRock Fund Advisors now owns 1,906,753 shares of the company’s stock valued at $49,557,000 after buying an additional 63,995 shares during the last quarter. Hamlin Capital Management LLC increased its stake in shares of Buckle by 2.0% in the second quarter. Hamlin Capital Management LLC now owns 1,735,380 shares of the company’s stock valued at $45,103,000 after buying an additional 34,306 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Buckle by 2.0% in the second quarter. State Street Corp now owns 794,820 shares of the company’s stock valued at $20,654,000 after buying an additional 15,372 shares during the last quarter. 65.35% of the stock is currently owned by hedge funds and other institutional investors.
The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear. The Company provides customer services, such as free hemming, free gift-wrapping, easy layaways, the Buckle private label credit card, and a frequent shopper program.
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