SunTrust Banks Research Analysts Cut Earnings Estimates for Hhgregg Inc. (HGG)
Hhgregg Inc. (NYSE:HGG) – Research analysts at SunTrust Banks lowered their Q3 2017 earnings estimates for Hhgregg in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst D. Magee now anticipates that the brokerage will post earnings per share of ($0.18) for the quarter, down from their prior forecast of ($0.15). SunTrust Banks also issued estimates for Hhgregg’s FY2017 earnings at ($1.10) EPS and FY2018 earnings at ($0.90) EPS.
Separately, Zacks Investment Research downgraded Hhgregg from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th.
Hhgregg (NYSE:HGG) opened at 1.60 on Thursday. Hhgregg has a 12 month low of $1.28 and a 12 month high of $4.36. The firm’s market capitalization is $44.48 million. The stock’s 50 day moving average price is $1.74 and its 200 day moving average price is $1.83.
Hhgregg (NYSE:HGG) last issued its quarterly earnings results on Tuesday, November 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by $0.14. Hhgregg had a negative net margin of 3.22% and a negative return on equity of 27.93%. The firm had revenue of $455 million for the quarter, compared to analyst estimates of $459.90 million. During the same quarter last year, the business posted ($0.37) earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year.
In other Hhgregg news, CEO Robert James Riesbeck bought 50,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was bought at an average price of $1.45 per share, for a total transaction of $72,500.00. Following the transaction, the chief executive officer now owns 253,070 shares of the company’s stock, valued at approximately $366,951.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 53.10% of the company’s stock.
An institutional investor recently raised its position in Hhgregg stock. Northern Trust Corp raised its stake in shares of Hhgregg Inc. (NYSE:HGG) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 174,251 shares of the company’s stock after buying an additional 6,393 shares during the period. Northern Trust Corp owned about 0.63% of Hhgregg worth $320,000 as of its most recent filing with the SEC. Institutional investors own 65.61% of the company’s stock.
Hhgregg Company Profile
hhgregg, Inc (hhgregg) is an appliance, electronics and furniture retailer. The Company operates as a multi-regional retailer with approximately 230 brick-and-mortar stores in 20 states that also offer global and local brands across the nation through hhgregg.com. It also sells a suite of services, including third-party premium service plans (PSPs), third-party in-home service and repair of its products, delivery and installation, and in-home repair and maintenance.
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