FY2018 Earnings Forecast for DSW Inc. Issued By Wedbush (DSW)
DSW Inc. (NYSE:DSW) – Research analysts at Wedbush decreased their FY2018 earnings per share estimates for DSW in a note issued to investors on Wednesday. Wedbush analyst C. Svezia now expects that the company will earn $1.47 per share for the year, down from their previous estimate of $1.48. Wedbush has a “Outperform” rating and a $22.00 price objective on the stock. Wedbush also issued estimates for DSW’s FY2019 earnings at $1.53 EPS.
DSW (NYSE:DSW) last released its quarterly earnings data on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. The company had revenue of $680.40 million for the quarter, compared to analyst estimates of $666.66 million. DSW had a return on equity of 12.12% and a net margin of 4.41%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS.
Several other analysts have also recently issued reports on DSW. Buckingham Research cut shares of DSW from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research note on Monday, May 8th. Zacks Investment Research upgraded shares of DSW from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Canaccord Genuity restated a “hold” rating and set a $19.00 price objective on shares of DSW in a research report on Tuesday, May 16th. CL King upgraded shares of DSW from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 23rd. Finally, B. Riley restated a “neutral” rating and set a $18.50 price objective on shares of DSW in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $21.83.
DSW (DSW) traded up 4.39% during midday trading on Thursday, reaching $19.96. The company had a trading volume of 2,263,606 shares. The stock’s 50 day moving average is $17.45 and its 200 day moving average is $18.91. DSW has a one year low of $15.14 and a one year high of $26.13. The company has a market capitalization of $1.61 billion, a PE ratio of 13.38 and a beta of 0.83.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of DSW by 42,735.5% in the first quarter. BlackRock Inc. now owns 8,346,505 shares of the company’s stock worth $172,606,000 after buying an additional 8,327,020 shares during the period. RidgeWorth Capital Management LLC acquired a new position in shares of DSW during the first quarter worth about $48,675,000. Dimensional Fund Advisors LP boosted its position in shares of DSW by 41.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,974,645 shares of the company’s stock worth $105,753,000 after buying an additional 1,748,831 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of DSW by 434.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,693,900 shares of the company’s stock worth $35,030,000 after buying an additional 1,376,800 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in shares of DSW by 110.6% in the first quarter. Frontier Capital Management Co. LLC now owns 2,408,558 shares of the company’s stock worth $49,809,000 after buying an additional 1,264,730 shares during the period. 83.62% of the stock is owned by institutional investors.
In other news, Director Harvey L. Sonnenberg sold 8,439 shares of DSW stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $18.00, for a total transaction of $151,902.00. Following the sale, the director now owns 12,242 shares of the company’s stock, valued at approximately $220,356. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joanne Zaiac sold 4,219 shares of DSW stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $17.82, for a total transaction of $75,182.58. Following the sale, the director now directly owns 4,313 shares in the company, valued at approximately $76,857.66. The disclosure for this sale can be found here. Insiders own 20.40% of the company’s stock.
DSW declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 22nd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 33.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Monday, September 18th. DSW’s payout ratio is 54.05%.
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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