Stage Stores Inc. (SSI) Shares Down 17.6% Following Weak Earnings
Stage Stores Inc. (NYSE:SSI) fell 17.6% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $4.30 and last traded at $4.78, with a volume of 3,455,362 shares changing hands. The stock had previously closed at $5.80.
The company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.21. Stage Stores had a positive return on equity of 0.75% and a negative net margin of 0.30%. The business earned $317.10 million during the quarter, compared to the consensus estimate of $327.74 million. During the same period in the prior year, the business earned ($0.29) EPS. The business’s revenue was down 9.8% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.55%. Stage Stores’s dividend payout ratio (DPR) is presently -333.31%.
A number of equities research analysts have recently weighed in on the company. B. Riley reaffirmed a “neutral” rating and set a $3.50 price target on shares of Stage Stores in a report on Friday. Telsey Advisory Group lifted their price target on Stage Stores from $5.25 to $6.50 and gave the company a “market perform” rating in a report on Friday, August 19th. Zacks Investment Research cut Stage Stores from a “hold” rating to a “sell” rating in a report on Saturday, August 20th. Finally, Johnson Rice cut Stage Stores from a “buy” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Stage Stores presently has an average rating of “Hold” and a consensus target price of $6.75.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Stage Stores by 3,908.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,079 shares of the company’s stock valued at $101,000 after buying an additional 17,628 shares during the period. Stifel Financial Corp raised its position in Stage Stores by 11.1% in the second quarter. Stifel Financial Corp now owns 21,210 shares of the company’s stock valued at $104,000 after buying an additional 2,125 shares during the period. Quantitative Investment Management LLC raised its position in Stage Stores by 4.4% in the second quarter. Quantitative Investment Management LLC now owns 28,200 shares of the company’s stock valued at $137,000 after buying an additional 1,200 shares during the period. Alliancebernstein L.P. raised its position in Stage Stores by 6.6% in the second quarter. Alliancebernstein L.P. now owns 32,510 shares of the company’s stock valued at $159,000 after buying an additional 2,000 shares during the period. Finally, Royal Bank of Canada raised its position in Stage Stores by 3.0% in the second quarter. Royal Bank of Canada now owns 36,146 shares of the company’s stock valued at $176,000 after buying an additional 1,046 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.
The stock has a 50-day moving average of $5.22 and a 200-day moving average of $5.51. The firm’s market cap is $129.80 million.
Stage Stores Company Profile
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.
Receive News & Stock Ratings for Stage Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stage Stores Inc. and related stocks with our FREE daily email newsletter.