Stage Stores Inc. (SSI) Issues Quarterly Earnings Results, Misses Estimates By $0.23 EPS
Stage Stores Inc. (NYSE:SSI) announced its earnings results on Thursday. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by $0.23. Stage Stores had a negative net margin of 0.30% and a positive return on equity of 0.75%. The business had revenue of $317.10 million for the quarter, compared to analyst estimates of $327.74 million. During the same period in the prior year, the company earned ($0.29) earnings per share.
Stage Stores (NYSE:SSI) opened at 5.80 on Thursday. The firm’s market capitalization is $157.49 million. The stock has a 50 day moving average price of $5.24 and a 200-day moving average price of $5.52. Stage Stores has a one year low of $4.44 and a one year high of $9.98.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 29th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.34%. Stage Stores’s dividend payout ratio is presently -333.31%.
Several research analysts recently issued reports on SSI shares. Zacks Investment Research raised Stage Stores from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Telsey Advisory Group upped their target price on Stage Stores from $5.25 to $6.50 and gave the company a “market perform” rating in a research report on Friday, August 19th. Finally, B. Riley reaffirmed a “neutral” rating and set a $4.80 target price on shares of Stage Stores in a research report on Friday, August 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.08.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Credit Suisse AG raised its position in Stage Stores by 179.3% in the third quarter. Credit Suisse AG now owns 84,343 shares of the company’s stock worth $473,000 after buying an additional 54,147 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in shares of Stage Stores during the third quarter worth about $521,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Stage Stores by 3,908.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,079 shares of the company’s stock worth $101,000 after buying an additional 17,628 shares during the period. Northern Trust Corp increased its stake in shares of Stage Stores by 24.6% in the third quarter. Northern Trust Corp now owns 485,046 shares of the company’s stock worth $2,721,000 after buying an additional 95,685 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Stage Stores by 0.9% in the third quarter. California State Teachers Retirement System now owns 54,265 shares of the company’s stock worth $304,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.
About Stage Stores
Stage Stores, Inc operates specialty department stores mainly in small and mid-sized towns and communities. The Company’s department stores offer a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods. The Company operates approximately 830 specialty department stores in over 40 states under the BEALLS, GOODY’S, PALAIS ROYAL, PEEBLES and STAGE nameplates and a direct-to-consumer business.
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