KeyCorp Research Analysts Decrease Earnings Estimates for Buckle Inc. (BKE)
Buckle Inc. (NYSE:BKE) – Investment analysts at KeyCorp dropped their Q3 2017 earnings per share (EPS) estimates for shares of Buckle in a report issued on Friday. KeyCorp analyst J. Schmidt now expects that the brokerage will post earnings of $0.57 per share for the quarter, down from their prior forecast of $0.61. KeyCorp currently has a “Equal Weight” rating on the stock. KeyCorp also issued estimates for Buckle’s Q4 2017 earnings at $0.96 EPS, FY2017 earnings at $2.33 EPS, Q1 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.98 EPS and FY2018 earnings at $2.33 EPS.
Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, August 19th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The firm had revenue of $212.20 million for the quarter. Buckle had a net margin of 12.06% and a return on equity of 30.53%. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.
A number of other equities analysts also recently issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $21.00 price target (down previously from $22.00) on shares of Buckle in a report on Sunday, September 4th. Zacks Investment Research downgraded shares of Buckle from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG reiterated a “sell” rating and issued a $22.00 price target on shares of Buckle in a report on Tuesday, July 5th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.80.
Buckle (NYSE:BKE) traded down 0.46% during mid-day trading on Monday, reaching $21.53. 27,535 shares of the company traded hands. The stock’s 50 day moving average price is $24.67 and its 200 day moving average price is $26.42. Buckle has a 52 week low of $20.85 and a 52 week high of $36.73. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 8.04 and a beta of 1.20.
Several large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in 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 in the last quarter. Advisors Asset Management Inc. purchased a new stake in Buckle during the second quarter valued at about $19,001,000. Schroder Investment Management Group boosted its stake in 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 in the last quarter. BlackRock Fund Advisors boosted its stake in 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 in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Buckle by 961.2% in the second quarter. Guggenheim Capital LLC now owns 65,623 shares of the company’s stock valued at $1,706,000 after buying an additional 59,439 shares in the last quarter. 65.35% of the stock is currently owned by institutional investors.
In related news, VP Kyle Hanson sold 1,000 shares of the stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $26.25, for a total value of $26,250.00. Following the sale, the vice president now directly owns 25,400 shares of the company’s stock, valued at approximately $666,750. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kelli D. Molczyk sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $26.71, for a total transaction of $106,840.00. Following 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 corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Friday, October 14th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a yield of 4.62%. Buckle’s payout ratio is 37.45%.
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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