Barnes & Noble Inc. (BKS) Downgraded to Equal Weight at Consumer Edge
Several other brokerages also recently weighed in on BKS. Gabelli downgraded Barnes & Noble from a buy rating to a hold rating in a research report on Wednesday, August 17th. Zacks Investment Research upgraded Barnes & Noble from a hold rating to a buy rating and set a $14.00 price objective for the company in a research report on Tuesday, July 19th. Finally, Sidoti began coverage on Barnes & Noble in a research report on Thursday, August 18th. They issued a neutral rating and a $13.00 price objective for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Barnes & Noble currently has a consensus rating of Hold and a consensus target price of C$15.38.
Shares of Barnes & Noble (NYSE:BKS) traded down 0.85% during trading on Wednesday, hitting $11.70. The company had a trading volume of 137,553 shares. The firm’s market capitalization is $855.89 million. The company’s 50 day moving average is $10.68 and its 200 day moving average is $11.50. Barnes & Noble has a 1-year low of $7.25 and a 1-year high of $13.63.
Barnes & Noble (NYSE:BKS) last announced its quarterly earnings data on Thursday, September 8th. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. Barnes & Noble had a positive return on equity of 6.07% and a negative net margin of 0.10%. The firm earned $913.90 million during the quarter, compared to the consensus estimate of $959.65 million. During the same quarter in the previous year, the company posted ($0.68) earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. Analysts anticipate that Barnes & Noble will post $0.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 7th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.60 annualized dividend and a yield of 5.08%. Barnes & Noble’s payout ratio is -599.94%.
In related news, insider Frederic Argir sold 17,377 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of C$11.59, for a total value of C$201,399.43. Following the sale, the insider now directly owns 73,154 shares of the company’s stock, valued at C$847,854.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David S. Deason sold 9,620 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of C$10.79, for a total value of C$103,799.80. Following the completion of the sale, the vice president now directly owns 96,297 shares in the company, valued at C$1,039,044.63. The disclosure for this sale can be found here. 19.00% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new stake in shares of Barnes & Noble during the second quarter valued at $117,000. Suntrust Banks Inc. bought a new stake in Barnes & Noble during the second quarter valued at approximately $116,000. Quantitative Investment Management LLC bought a new stake in Barnes & Noble during the second quarter valued at approximately $194,000. California State Teachers Retirement System increased its stake in Barnes & Noble by 23.3% in the second quarter. California State Teachers Retirement System now owns 132,558 shares of the company’s stock valued at $1,505,000 after buying an additional 25,052 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Barnes & Noble by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 1,266,793 shares of the company’s stock valued at $14,378,000 after buying an additional 25,990 shares during the period. 74.68% of the stock is currently owned by institutional investors.
Barnes & Noble Company Profile
Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.
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