Johnson Rice Downgrades Stage Stores Inc. (SSI) to Hold
Stage Stores Inc. (NYSE:SSI) was downgraded by Johnson Rice from a “buy” rating to a “hold” rating in a research report issued on Thursday.
SSI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Stage Stores from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Telsey Advisory Group boosted their price target on shares of Stage Stores from $5.25 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, August 19th. Finally, B. Riley reiterated a “neutral” rating and set a $4.80 price target on shares of Stage Stores in a research note on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Stage Stores has a consensus rating of “Hold” and an average target price of $4.33.
Shares of Stage Stores (NYSE:SSI) opened at 4.45 on Thursday. The firm’s market capitalization is $120.84 million. Stage Stores has a 1-year low of $4.38 and a 1-year high of $9.98. The company has a 50-day moving average of $5.23 and a 200-day moving average of $5.58.
Stage Stores (NYSE:SSI) last issued its quarterly earnings data on Thursday, November 17th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by $0.21. The company earned $317.10 million during the quarter, compared to analysts’ expectations of $327.74 million. Stage Stores had a negative net margin of 0.68% and a negative return on equity of 0.71%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.29) earnings per share. Equities research analysts predict that Stage Stores will post $0.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Tuesday, November 29th will be paid 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 13.48%. Stage Stores’s payout ratio is -136.36%.
Several hedge funds have recently added to or reduced their stakes in SSI. California State Teachers Retirement System raised its stake in 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 last quarter. Royal Bank of Canada raised its stake in Stage Stores by 3.0% in the second quarter. Royal Bank of Canada now owns 36,146 shares of the company’s stock worth $176,000 after buying an additional 1,046 shares during the last quarter. Quantitative Investment Management LLC raised its stake in Stage Stores by 4.4% in the second quarter. Quantitative Investment Management LLC now owns 28,200 shares of the company’s stock worth $137,000 after buying an additional 1,200 shares during the last quarter. Alliancebernstein L.P. raised its stake in Stage Stores by 6.6% in the second quarter. Alliancebernstein L.P. now owns 32,510 shares of the company’s stock worth $159,000 after buying an additional 2,000 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in Stage Stores by 5.9% in the second quarter. BlackRock Group LTD now owns 37,376 shares of the company’s stock worth $183,000 after buying an additional 2,069 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.
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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