$126.43 Million in Sales Expected for Kirkland’s, Inc. (NASDAQ:KIRK) This Quarter
Wall Street brokerages expect that Kirkland’s, Inc. (NASDAQ:KIRK) will announce $126.43 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Kirkland’s’ earnings, with the highest sales estimate coming in at $127.30 million and the lowest estimate coming in at $125.60 million. Kirkland’s posted sales of $123.02 million in the same quarter last year, which indicates a positive year over year growth rate of 2.8%. The company is expected to report its next earnings report on Tuesday, August 22nd.
According to Zacks, analysts expect that Kirkland’s will report full-year sales of $126.43 million for the current year, with estimates ranging from $620.42 million to $622.30 million. For the next year, analysts forecast that the company will post sales of $635.17 million per share, with estimates ranging from $633.30 million to $637.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Kirkland’s.
Kirkland’s (NASDAQ:KIRK) last posted its quarterly earnings data on Tuesday, May 23rd. The specialty retailer reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $132.80 million during the quarter, compared to analyst estimates of $134.32 million. Kirkland’s had a net margin of 1.46% and a return on equity of 6.90%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS.
KIRK has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Kirkland’s from a “sell” rating to a “hold” rating in a report on Tuesday, March 21st. Raymond James Financial, Inc. upgraded shares of Kirkland’s from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, March 14th. Finally, B. Riley initiated coverage on shares of Kirkland’s in a report on Saturday, July 1st. They issued a “buy” rating and a $13.50 target price for the company. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $14.17.
Kirkland’s (KIRK) traded up 2.31% during trading on Friday, hitting $10.20. 133,626 shares of the stock were exchanged. The firm has a market cap of $162.34 million, a PE ratio of 19.14 and a beta of 1.27. Kirkland’s has a 12-month low of $8.51 and a 12-month high of $17.41. The stock’s 50-day moving average price is $9.54 and its 200-day moving average price is $12.09.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC boosted its position in shares of Kirkland’s by 45.4% in the first quarter. Nuveen Asset Management LLC now owns 850,442 shares of the specialty retailer’s stock valued at $10,545,000 after buying an additional 265,417 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Kirkland’s during the fourth quarter valued at approximately $4,111,000. Algert Global LLC boosted its position in shares of Kirkland’s by 243.5% in the first quarter. Algert Global LLC now owns 180,144 shares of the specialty retailer’s stock valued at $2,234,000 after buying an additional 127,696 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Kirkland’s by 10.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,040,984 shares of the specialty retailer’s stock valued at $12,908,000 after buying an additional 102,035 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Kirkland’s by 134.5% in the fourth quarter. Guggenheim Capital LLC now owns 175,592 shares of the specialty retailer’s stock valued at $2,723,000 after buying an additional 100,709 shares during the last quarter. Institutional investors own 89.79% of the company’s stock.
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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