FY2016 EPS Estimates for Weyco Group Inc. (WEYS) Boosted by Analyst
Weyco Group Inc. (NASDAQ:WEYS) – Analysts at B. Riley upped their FY2016 earnings estimates for Weyco Group in a report released on Wednesday. B. Riley analyst M. Kummetz now expects that the brokerage will earn $1.41 per share for the year, up from their prior forecast of $1.26. B. Riley currently has a “Neutral” rating and a $24.00 target price on the stock. B. Riley also issued estimates for Weyco Group’s Q4 2016 earnings at $0.64 EPS, FY2017 earnings at $1.51 EPS and FY2018 earnings at $1.62 EPS.
Weyco Group (NASDAQ:WEYS) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.08. The company had revenue of $79.10 million for the quarter, compared to the consensus estimate of $80.54 million. Weyco Group had a return on equity of 7.69% and a net margin of 5.06%.
Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Weyco Group from a “sell” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Saturday. TheStreet lowered Weyco Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd.
Shares of Weyco Group (NASDAQ:WEYS) opened at 29.74 on Friday. The stock has a market cap of $313.43 million, a P/E ratio of 19.59 and a beta of 0.56. The company has a 50 day moving average price of $26.44 and a 200 day moving average price of $26.87. Weyco Group has a 1-year low of $22.94 and a 1-year high of $30.11.
Hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in Weyco Group by 1.5% in the third quarter. California State Teachers Retirement System now owns 13,823 shares of the company’s stock valued at $371,000 after buying an additional 200 shares in the last quarter. Rhumbline Advisers increased its stake in Weyco Group by 3.2% in the third quarter. Rhumbline Advisers now owns 9,738 shares of the company’s stock valued at $262,000 after buying an additional 300 shares in the last quarter. Teachers Advisors LLC increased its stake in Weyco Group by 1.3% in the third quarter. Teachers Advisors LLC now owns 10,144 shares of the company’s stock valued at $273,000 after buying an additional 126 shares in the last quarter. BlackRock Fund Advisors increased its stake in Weyco Group by 6.3% in the third quarter. BlackRock Fund Advisors now owns 181,776 shares of the company’s stock valued at $4,884,000 after buying an additional 10,779 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in Weyco Group by 0.7% in the third quarter. Deprince Race & Zollo Inc. now owns 107,412 shares of the company’s stock valued at $2,886,000 after buying an additional 695 shares in the last quarter. 32.01% of the stock is owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Monday, December 5th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, December 1st. Weyco Group’s dividend payout ratio is presently 58.74%.
Weyco Group Company Profile
Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe.
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