Q3 2018 Earnings Forecast for Kirkland’s, Inc. Issued By SunTrust Banks (KIRK)
Kirkland’s, Inc. (NASDAQ:KIRK) – Equities research analysts at SunTrust Banks boosted their Q3 2018 EPS estimates for Kirkland’s in a report issued on Tuesday. SunTrust Banks analyst D. Magee now forecasts that the specialty retailer will post earnings of ($0.04) per share for the quarter, up from their previous forecast of ($0.05).
Kirkland’s (NASDAQ:KIRK) last posted its quarterly earnings results on Tuesday, August 22nd. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. Kirkland’s had a net margin of 1.40% and a return on equity of 6.59%. The business had revenue of $131.68 million during the quarter, compared to analyst estimates of $125.44 million. During the same period in the prior year, the business posted ($0.22) earnings per share. The company’s revenue was up 7.0% on a year-over-year basis.
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A number of other research analysts have also recently commented on KIRK. B. Riley reiterated a “buy” rating and issued a $13.50 price target on shares of Kirkland’s in a research note on Wednesday, May 24th. Sidoti upgraded Kirkland’s from a “neutral” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a research note on Tuesday. Finally, Zacks Investment Research upgraded Kirkland’s from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Wednesday.
Kirkland’s (NASDAQ KIRK) traded down 0.51% during mid-day trading on Thursday, reaching $11.60. 184,842 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $9.57 and its 200 day moving average price is $10.65. Kirkland’s has a one year low of $8.17 and a one year high of $17.41. The firm has a market cap of $185.60 million, a price-to-earnings ratio of 22.35 and a beta of 1.25.
Kirkland’s declared that its Board of Directors has approved a share buyback plan on Tuesday, August 22nd that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Kirkland’s by 7.3% in the fourth quarter. State Street Corp now owns 344,056 shares of the specialty retailer’s stock worth $5,336,000 after buying an additional 23,412 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Kirkland’s by 835.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,674 shares of the specialty retailer’s stock worth $181,000 after buying an additional 10,426 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Kirkland’s by 0.7% in the first quarter. Nationwide Fund Advisors now owns 11,304 shares of the specialty retailer’s stock worth $140,000 after buying an additional 76 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Kirkland’s during the first quarter worth approximately $249,000. Finally, Strs Ohio boosted its position in shares of Kirkland’s by 26.6% in the first quarter. Strs Ohio now owns 51,000 shares of the specialty retailer’s stock worth $632,000 after buying an additional 10,700 shares during the last quarter. Institutional investors own 85.59% 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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