DSW Inc. (DSW) Updates FY17 Earnings Guidance
DSW Inc. (NYSE:DSW) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.35-1.45 for the period, compared to the Thomson Reuters consensus estimate of $1.40.
DSW Inc. (NYSE:DSW) opened at 23.07 on Tuesday. The company has a market cap of $1.90 billion, a PE ratio of 18.41 and a beta of 0.72. The stock’s 50 day moving average is $21.45 and its 200-day moving average is $22.31. DSW Inc. has a 52-week low of $18.51 and a 52-week high of $29.53.
DSW (NYSE:DSW) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. DSW had a net margin of 3.96% and a return on equity of 12.51%. The business had revenue of $697 million for the quarter, compared to analyst estimates of $710.42 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. DSW’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that DSW Inc. will post $1.39 EPS for the current fiscal year.
Several brokerages have recently issued reports on DSW. Canaccord Genuity reiterated a hold rating and issued a $23.00 target price (up previously from $19.00) on shares of DSW in a research note on Monday, August 29th. They noted that the move was a valuation call. Telsey Advisory Group upped their target price 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. Zacks Investment Research upgraded shares of DSW from a strong sell rating to a hold rating in a research note on Tuesday, July 26th. B. Riley reiterated a neutral rating and issued a $23.00 target price on shares of DSW in a research note on Monday, September 5th. Finally, Susquehanna began coverage on shares of DSW in a research note on Thursday, September 15th. They issued a negative rating and a $19.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $23.99.
In other news, Director Harvey L. Sonnenberg sold 8,000 shares of DSW stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $23.50, for a total transaction of $188,000.00. Following the completion of the transaction, the director now directly owns 20,142 shares of the company’s stock, valued at approximately $473,337. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William L. Jordan sold 42,423 shares of DSW stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $25.00, for a total transaction of $1,060,575.00. Following the transaction, the executive vice president now directly owns 72,333 shares of the company’s stock, valued at $1,808,325. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of DSW. BlackRock Fund Advisors raised its position in DSW by 143.4% in the second quarter. BlackRock Fund Advisors now owns 1,647,457 shares of the company’s stock valued at $34,893,000 after buying an additional 970,513 shares during the period. Point72 Asset Management L.P. raised its position in DSW by 1,165.2% in the second quarter. Point72 Asset Management L.P. now owns 846,400 shares of the company’s stock valued at $17,927,000 after buying an additional 779,500 shares during the period. Morgan Stanley raised its position in DSW by 970.8% in the third quarter. Morgan Stanley now owns 762,555 shares of the company’s stock valued at $15,617,000 after buying an additional 691,340 shares during the period. Credit Suisse AG raised its position in 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 period. Finally, State Street Corp raised its position in DSW by 29.7% in the second quarter. State Street Corp now owns 1,427,335 shares of the company’s stock valued at $30,226,000 after buying an additional 326,626 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.
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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