Cato (NYSE:CATO – Get Free Report) announced its quarterly earnings results on Thursday. The specialty retailer reported ($0.28) EPS for the quarter, Zacks reports. Cato had a negative net margin of 2.93% and a negative return on equity of 11.23%.
Cato Stock Down 2.5%
Shares of NYSE CATO opened at $3.34 on Thursday. Cato has a 52-week low of $2.19 and a 52-week high of $5.50. The company’s 50-day simple moving average is $4.10 and its 200-day simple moving average is $3.41. The firm has a market cap of $65.79 million, a price-to-earnings ratio of -3.30 and a beta of 0.78.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on CATO. Wall Street Zen raised Cato to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Cato in a report on Thursday, October 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cato has a consensus rating of “Sell”.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Cato stock. Goldman Sachs Group Inc. grew its stake in Cato Corporation (The) (NYSE:CATO – Free Report) by 76.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,437 shares of the specialty retailer’s stock after purchasing an additional 20,521 shares during the period. Goldman Sachs Group Inc. owned approximately 0.24% of Cato worth $158,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 61.10% of the stock is owned by institutional investors.
Cato Company Profile
The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.
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