Destination XL Group Inc (DXLG) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Destination XL Group Inc (NASDAQ:DXLG) released its quarterly earnings data on Friday. The company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Destination XL Group had a negative return on equity of 4.18% and a negative net margin of 1.43%. The business had revenue of $101.90 million for the quarter, compared to analysts’ expectations of $103.82 million. During the same quarter in the previous year, the business posted ($0.07) EPS. Destination XL Group’s revenue for the quarter was up 2.3% on a year-over-year basis. Destination XL Group updated its FY17 guidance to ($0.05) – $0.00 EPS.
Shares of Destination XL Group (NASDAQ:DXLG) opened at 4.85 on Friday. The firm’s 50-day moving average price is $4.35 and its 200 day moving average price is $4.73. Destination XL Group has a 52 week low of $3.90 and a 52 week high of $5.88. The company’s market cap is $240.30 million.
Several equities analysts have recently weighed in on DXLG shares. Wunderlich started coverage on Destination XL Group in a report on Tuesday, August 2nd. They set a “buy” rating and a $6.50 price objective on the stock. Zacks Investment Research cut Destination XL Group from a “hold” rating to a “sell” rating in a report on Monday, August 29th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Destination XL Group currently has a consensus rating of “Buy” and an average price target of $7.00.
In other Destination XL Group news, Director Willem Mesdag acquired 9,744 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were bought at an average cost of $4.63 per share, with a total value of $45,114.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 30.35% of the company’s stock.
Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Destination XL Group during the third quarter valued at $123,000. A.R.T. Advisors LLC purchased a new stake in shares of Destination XL Group during the second quarter valued at $157,000. Rothschild Asset Management Inc. purchased a new stake in shares of Destination XL Group during the second quarter valued at $160,000. Alliancebernstein L.P. increased its stake in shares of Destination XL Group by 3.1% in the second quarter. Alliancebernstein L.P. now owns 36,700 shares of the company’s stock valued at $168,000 after buying an additional 1,100 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Destination XL Group by 7.4% in the second quarter. Oppenheimer & Co. Inc. now owns 43,300 shares of the company’s stock valued at $198,000 after buying an additional 3,000 shares during the period. Institutional investors own 80.78% of the company’s stock.
Destination XL Group Company Profile
Destination XL Group, Inc is a specialty retailer of men’s apparel with retail and direct operations in the United States and London, England. The Company operates through the Big & Tall Men’s Apparel segment. The Company operates under the trade names of Destination XL, DXL, Casual Male XL, Casual Male XL outlets, DXL outlets, Rochester Clothing, ShoesXL and LivingXL.
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