Barnes & Noble (BKS) Shares Down 11.5% on Disappointing Earnings
Shares of Barnes & Noble, Inc. (NYSE:BKS) were down 11.5% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $6.75 and last traded at $6.90. Approximately 3,492,132 shares traded hands during mid-day trading, an increase of 227% from the average daily volume of 1,068,611 shares. The stock had previously closed at $7.80.
The specialty retailer reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.15). Barnes & Noble had a net margin of 0.67% and a return on equity of 4.48%. The business had revenue of $791.12 million for the quarter, compared to analyst estimates of $812.20 million. During the same period in the prior year, the business earned ($0.29) EPS. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year.
Several research analysts have weighed in on BKS shares. Zacks Investment Research cut Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Craig Hallum cut Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Friday.
The company has a quick ratio of 0.17, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $548.35, a PE ratio of 22.88, a P/E/G ratio of 1.48 and a beta of 2.60.
About Barnes & Noble
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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