Ermenegildo Zegna (NYSE:ZGN) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Ermenegildo Zegna (NYSE:ZGN) released its quarterly earnings data on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12), FiscalAI reports. The firm had revenue of $563.39 million during the quarter, compared to analyst estimates of $1.13 billion.

Ermenegildo Zegna Price Performance

Shares of ZGN opened at $12.56 on Thursday. Ermenegildo Zegna has a one year low of $8.23 and a one year high of $15.95. The business’s 50 day simple moving average is $13.86 and its 200-day simple moving average is $12.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZGN shares. BNP Paribas Exane lowered shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price target on the stock. in a report on Tuesday, August 11th. TD Cowen lifted their target price on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, July 24th. The Goldman Sachs Group cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their target price for the company from $13.30 to $14.00 in a research note on Wednesday, June 17th. JPMorgan Chase & Co. increased their price target on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen cut shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.13.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors have recently bought and sold shares of ZGN. Vident Advisory LLC raised its holdings in shares of Ermenegildo Zegna by 6.5% in the fourth quarter. Vident Advisory LLC now owns 18,001 shares of the company’s stock valued at $185,000 after buying an additional 1,097 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in Ermenegildo Zegna by 12.9% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company’s stock worth $109,000 after acquiring an additional 1,323 shares during the last quarter. Deutsche Bank AG increased its position in Ermenegildo Zegna by 3.3% in the 4th quarter. Deutsche Bank AG now owns 57,477 shares of the company’s stock valued at $589,000 after acquiring an additional 1,822 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Ermenegildo Zegna by 73.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company’s stock valued at $61,000 after acquiring an additional 3,033 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Ermenegildo Zegna by 10.0% in the fourth quarter. Intech Investment Management LLC now owns 36,851 shares of the company’s stock worth $378,000 after acquiring an additional 3,352 shares during the last quarter. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.