Kirkland’s Inc. (KIRK) Updates FY17 Earnings Guidance
Kirkland’s Inc. (NASDAQ:KIRK) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.70-0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.73. The company issued revenue guidance of $601 million, compared to the consensus revenue estimate of $601.71 million.
Kirkland’s Inc. (NASDAQ:KIRK) opened at 15.06 on Wednesday. The company has a 50 day moving average of $12.67 and a 200-day moving average of $13.67. Kirkland’s Inc. has a one year low of $11.18 and a one year high of $18.19. The company has a market cap of $239.30 million, a P/E ratio of 18.32 and a beta of 1.66.
Kirkland’s (NASDAQ:KIRK) last issued its earnings results on Tuesday, November 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.05. Kirkland’s had a net margin of 2.35% and a return on equity of 11.08%. The firm earned $138.20 million during the quarter, compared to analysts’ expectations of $137.50 million. During the same quarter last year, the company posted ($0.02) earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Kirkland’s Inc. will post $0.73 earnings per share for the current fiscal year.
A number of research firms have weighed in on KIRK. Zacks Investment Research raised shares of Kirkland’s from a sell rating to a hold rating in a report on Tuesday, October 25th. SunTrust Banks Inc. cut their price objective on shares of Kirkland’s from $20.00 to $16.00 and set a buy rating for the company in a report on Wednesday, August 24th. Sidoti cut shares of Kirkland’s from a buy rating to a neutral rating and cut their price objective for the company from $21.00 to $13.00 in a report on Tuesday, August 23rd. Finally, B. Riley reaffirmed a buy rating and issued a $15.00 price objective on shares of Kirkland’s in a report on Monday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $17.60.
In other news, Director Carl Kirkland sold 30,182 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $14.06, for a total transaction of $424,358.92. Following the completion of the sale, the director now owns 649,000 shares of the company’s stock, valued at $9,124,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in KIRK. Highbridge Capital Management LLC bought a new stake in Kirkland’s during the second quarter worth approximately $330,000. Landscape Capital Management L.L.C. bought a new stake in Kirkland’s during the second quarter worth approximately $450,000. Guggenheim Capital LLC boosted its stake in Kirkland’s by 4.6% in the second quarter. Guggenheim Capital LLC now owns 74,478 shares of the company’s stock worth $1,093,000 after buying an additional 3,309 shares in the last quarter. Penn Capital Management Co. Inc. boosted its stake in Kirkland’s by 19.6% in the second quarter. Penn Capital Management Co. Inc. now owns 414,939 shares of the company’s stock worth $6,091,000 after buying an additional 68,131 shares in the last quarter. Finally, State Street Corp boosted its stake in Kirkland’s by 10.9% in the second quarter. State Street Corp now owns 328,265 shares of the company’s stock worth $4,815,000 after buying an additional 32,226 shares in the last quarter. 85.42% of the stock is owned by institutional investors and hedge funds.
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Kirkland’s Company Profile
Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.
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