GNC (GNC) Shares Down 19.2% Following Weak Earnings
Shares of GNC Holdings Inc (NYSE:GNC) fell 19.2% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $3.20 and last traded at $3.41. 4,323,450 shares traded hands during mid-day trading, an increase of 49% from the average session volume of 2,908,571 shares. The stock had previously closed at $4.22.
The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). GNC had a negative return on equity of 33.58% and a negative net margin of 8.42%. The business had revenue of $580.00 million during the quarter, compared to the consensus estimate of $580.45 million. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year.
A number of research firms recently issued reports on GNC. Zacks Investment Research upgraded GNC from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Buckingham Research initiated coverage on GNC in a research report on Monday, October 29th. They set a “buy” rating and a $6.00 price target for the company. Finally, Barclays reissued a “sell” rating and set a $3.00 price target on shares of GNC in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $4.50.
The stock has a market cap of $354.01 million, a PE ratio of 2.41 and a beta of 0.54.
GNC Company Profile (NYSE:GNC)
GNC Holdings, Inc, together with its subsidiaries, operates as a specialty retailer of health, wellness, and performance products. It operates through three segments: U.S. and Canada, International, and Manufacturing/Wholesale. Its products include protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink, and other general merchandise.
Further Reading: How are Outstanding Shares Different from Authorized Shares?
Receive News & Ratings for GNC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GNC and related companies with MarketBeat.com's FREE daily email newsletter.