DSW Inc. (DSW) Announces Quarterly Earnings Results
DSW Inc. (NYSE:DSW) announced its quarterly earnings data on Tuesday. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The company had revenue of $697 million for the quarter, compared to analysts’ expectations of $710.42 million. DSW had a net margin of 3.96% and a return on equity of 12.51%. DSW’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. DSW updated its FY17 guidance to $1.35-1.45 EPS.
DSW (NYSE:DSW) opened at 23.07 on Tuesday. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 18.41 and a beta of 0.72. DSW has a 12-month low of $18.51 and a 12-month high of $29.53. The firm has a 50-day moving average of $21.45 and a 200-day moving average of $22.31.
In other DSW news, EVP William L. Jordan sold 42,423 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $25.00, for a total value of $1,060,575.00. Following the sale, the executive vice president now directly owns 72,333 shares in the company, valued at $1,808,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harvey L. Sonnenberg sold 8,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $23.50, for a total value of $188,000.00. Following the completion of the sale, the director now owns 20,142 shares in the company, valued at $473,337. The disclosure for this sale can be found here. 20.30% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Americafirst Capital Management LLC bought a new stake in shares of DSW during the second quarter worth $107,000. NEXT Financial Group Inc bought a new stake in shares of DSW during the third quarter worth $123,000. MSI Financial Services Inc boosted its stake in shares of DSW by 2.9% in the third quarter. MSI Financial Services Inc now owns 6,703 shares of the company’s stock worth $137,000 after buying an additional 190 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of DSW by 100.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,200 shares of the company’s stock worth $147,000 after buying an additional 3,600 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of DSW during the second quarter worth $159,000. Institutional investors own 82.29% of the company’s stock.
DSW has been the topic of several recent research reports. Zacks Investment Research raised shares of DSW from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Telsey Advisory Group upped their price target on shares of DSW from $23.00 to $27.00 and gave the stock a “market perform” rating in a research note on Thursday, August 25th. Canaccord Genuity reaffirmed a “hold” rating and set a $23.00 price target (up from $19.00) on shares of DSW in a research note on Monday, August 29th. They noted that the move was a valuation call. B. Riley reaffirmed a “neutral” rating and set a $23.00 price target on shares of DSW in a research note on Wednesday, August 31st. Finally, Citigroup Inc. upped their price target on shares of DSW from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 31st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. DSW currently has an average rating of “Hold” and a consensus target price of $23.99.
DSW Inc is a footwear retailer. The Company offers assortment of shoes, handbags and accessories for women, men and children. The Company operates through two segments: the DSW segment and the Affiliated Business Group (ABG) segment. The DSW segment includes DSW stores and dsw.com. The Company, through its ABG segment, partners with approximately three other retailers to help build and optimize their footwear businesses.
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