Barnes & Noble Inc. (BKS) Shares Gap Up Following Better-Than-Expected Earnings
Barnes & Noble Inc. (NYSE:BKS)’s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $13.10, but opened at $12.65. Barnes & Noble shares last traded at $12.83, with a volume of 577,912 shares trading hands.
The company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. The business earned $858.50 million during the quarter, compared to the consensus estimate of $859.78 million. Barnes & Noble had a net margin of 0.36% and a return on equity of 6.14%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.28) earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, October 7th were paid a $0.15 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 4.63%. Barnes & Noble’s dividend payout ratio (DPR) is 461.57%.
Several equities analysts have commented on BKS shares. Zacks Investment Research downgraded shares of Barnes & Noble from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Consumer Edge cut shares of Barnes & Noble from an “outperform” rating to an “equal weight” rating in a research report on Wednesday, November 16th. Sidoti started coverage on shares of Barnes & Noble in a research report on Thursday, August 18th. They set a “neutral” rating and a $13.00 price objective for the company. Finally, Gabelli cut shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.38.
In related news, insider Frederic Argir sold 17,377 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $11.59, for a total value of $201,399.43. Following the completion of the sale, the insider now directly owns 73,154 shares of the company’s stock, valued at $847,854.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP David S. Deason sold 9,620 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $10.79, for a total transaction of $103,799.80. Following the completion of the sale, the vice president now directly owns 96,297 shares of the company’s stock, valued at $1,039,044.63. The disclosure for this sale can be found here. 19.00% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Suntrust Banks Inc. bought a new stake in shares of Barnes & Noble during the second quarter worth $116,000. Emerald Acquisition Ltd. bought a new stake in shares of Barnes & Noble during the second quarter worth $117,000. Catalyst Capital Advisors LLC bought a new stake in shares of Barnes & Noble during the third quarter worth $119,000. Rational Advisors LLC bought a new stake in shares of Barnes & Noble during the second quarter worth $126,000. Finally, Mason Street Advisors LLC bought a new stake in shares of Barnes & Noble during the second quarter worth $134,000. 73.57% of the stock is owned by hedge funds and other institutional investors.
The company’s market capitalization is $947.33 million. The firm’s 50 day moving average price is $10.82 and its 200 day moving average price is $11.52.
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Barnes & Noble Company Profile
Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.
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