Stage Stores Inc. (SSI) Shares Gap Down on Disappointing Earnings
Stage Stores Inc. (NYSE:SSI)’s share price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $4.76, but opened at $4.78. Stage Stores shares last traded at $4.49, with a volume of 1,145,743 shares traded.
The company reported ($0.57) 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 company had revenue of $317.10 million for the quarter, compared to the consensus estimate of $327.74 million. During the same quarter last year, the business earned ($0.29) EPS. Stage Stores’s revenue was down 9.8% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 29th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 25th. This represents a $0.60 dividend on an annualized basis and a yield of 13.48%. Stage Stores’s dividend payout ratio (DPR) is presently -333.31%.
A number of equities analysts have commented on SSI shares. Zacks Investment Research upgraded Stage Stores from a “sell” rating to a “hold” rating in a research note on Thursday, October 20th. Johnson Rice lowered Stage Stores from a “buy” rating to a “hold” rating in a research note on Thursday. B. Riley reiterated a “neutral” rating and issued a $3.50 price target on shares of Stage Stores in a research note 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 research note on Friday, August 19th. Finally, Northcoast Research lowered Stage Stores from a “neutral” rating to a “sell” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $6.75.
Several large investors have recently added to or reduced their stakes in SSI. Schwab Charles Investment Management Inc. increased its stake in Stage Stores by 10.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 404,106 shares of the company’s stock valued at $1,973,000 after buying an additional 38,147 shares during the period. Wellington Management Group LLP increased its stake in Stage Stores by 5.1% in the first quarter. Wellington Management Group LLP now owns 3,913,995 shares of the company’s stock valued at $31,547,000 after buying an additional 191,364 shares during the period. Prudential Financial Inc. increased its stake in Stage Stores by 135.5% in the first quarter. Prudential Financial Inc. now owns 172,923 shares of the company’s stock valued at $1,394,000 after buying an additional 99,503 shares during the period. Strs Ohio increased its stake in Stage Stores by 8.3% in the second quarter. Strs Ohio now owns 53,600 shares of the company’s stock valued at $261,000 after buying an additional 4,100 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Stage Stores by 6.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 41,892 shares of the company’s stock valued at $204,000 after buying an additional 2,370 shares during the period. 92.97% of the stock is currently owned by institutional investors.
The firm’s 50 day moving average is $5.21 and its 200-day moving average is $5.50. The stock’s market cap is $120.84 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.
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