DSW Inc. (DSW) Releases Earnings Results, Beats Estimates By $0.03 EPS
DSW Inc. (NYSE:DSW) released its quarterly earnings data on Tuesday. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. DSW had a net margin of 3.96% and a return on equity of 12.51%. The firm had revenue of $697 million for the quarter, compared to the consensus estimate of $710.42 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. DSW updated its FY17 guidance to $1.35-1.45 EPS.
DSW (NYSE:DSW) opened at 23.07 on Tuesday. DSW has a 1-year low of $18.51 and a 1-year high of $29.53. The company has a market capitalization of $1.90 billion, a P/E ratio of 18.41 and a beta of 0.72. The firm has a 50-day moving average price of $21.45 and a 200 day moving average price of $22.31.
In other news, EVP William L. Jordan sold 42,423 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 72,333 shares in the company, valued at $1,808,325. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harvey L. Sonnenberg sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $23.50, for a total value of $188,000.00. Following the completion of the transaction, the director now owns 20,142 shares of the company’s stock, valued at $473,337. The disclosure for this sale can be found here. 20.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. D.A. Davidson & CO. boosted its position in shares of DSW by 14.5% in the third quarter. D.A. Davidson & CO. now owns 9,075 shares of the company’s stock valued at $185,000 after buying an additional 1,150 shares during the last quarter. Credit Suisse AG boosted its position in shares of DSW by 133.9% in the third quarter. Credit Suisse AG now owns 610,437 shares of the company’s stock valued at $12,502,000 after buying an additional 349,490 shares during the last quarter. Penn Capital Management Co. Inc. boosted its position in shares of DSW by 4.5% in the third quarter. Penn Capital Management Co. Inc. now owns 73,277 shares of the company’s stock valued at $1,501,000 after buying an additional 3,141 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of DSW during the third quarter valued at about $385,000. Finally, Boston Private Wealth LLC purchased a new position in shares of DSW during the third quarter valued at about $223,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
A number of equities research analysts recently weighed in on DSW shares. Zacks Investment Research raised shares of DSW from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, October 4th. Credit Suisse Group AG reissued a “hold” rating and set a $23.00 price target on shares of DSW in a research note on Wednesday, August 31st. Canaccord Genuity reissued a “hold” rating and set a $23.00 price target on shares of DSW in a research note on Wednesday, September 7th. Telsey Advisory Group raised their target price on shares of DSW from $23.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, August 25th. Finally, Wedbush restated a “neutral” rating and issued a $22.00 target price on shares of DSW in a report on Tuesday, November 1st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.99.
DSW Company Profile
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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