Perry Ellis International Inc. (PERY) Issues Quarterly Earnings Results
Perry Ellis International Inc. (NASDAQ:PERY) announced its earnings results on Thursday. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Perry Ellis International had a negative net margin of 0.54% and a positive return on equity of 8.31%. The company had revenue of $194 million for the quarter, compared to the consensus estimate of $194.67 million. During the same period in the previous year, the business earned $0.16 EPS. The company’s revenue was down 5.6% on a year-over-year basis. Perry Ellis International updated its FY17 guidance to $1.95-2.00 EPS.
Shares of Perry Ellis International (NASDAQ:PERY) opened at 21.85 on Thursday. The firm’s 50-day moving average is $19.23 and its 200-day moving average is $19.77. Perry Ellis International has a 12-month low of $15.73 and a 12-month high of $22.71. The company’s market capitalization is $338.59 billion.
In other Perry Ellis International news, insider Stanley P. Silverstein sold 10,942 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $19.61, for a total value of $214,572.62. Following the completion of the transaction, the insider now directly owns 74,960 shares in the company, valued at approximately $1,469,965.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 22.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its position in Perry Ellis International by 1.6% in the third quarter. Panagora Asset Management Inc. now owns 182,269 shares of the company’s stock valued at $3,514,000 after buying an additional 2,838 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in Perry Ellis International during the third quarter valued at $341,000. The Manufacturers Life Insurance Company acquired a new position in Perry Ellis International during the third quarter valued at $186,000. Two Sigma Advisers LP increased its position in Perry Ellis International by 4.6% in the third quarter. Two Sigma Advisers LP now owns 63,746 shares of the company’s stock valued at $1,229,000 after buying an additional 2,800 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its position in Perry Ellis International by 21.0% in the third quarter. Eagle Global Advisors LLC now owns 30,570 shares of the company’s stock valued at $589,000 after buying an additional 5,300 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Perry Ellis International from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. Deutsche Bank AG reiterated a “hold” rating and issued a $26.00 price objective on shares of Perry Ellis International in a report on Thursday, August 18th. Finally, Brean Capital reiterated a “buy” rating on shares of Perry Ellis International in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Perry Ellis International has an average rating of “Hold” and an average price target of $26.50.
Perry Ellis International Company Profile
Perry Ellis International, Inc is an apparel company. The Company designs, sources, markets and licenses its products nationally and internationally at multiple price points and across all levels of retail distribution. It operates through four segments: Men’s Sportswear and Swim, Women’s Sportswear, Direct-to-Consumer and Licensing.
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