Brown Shoe Co. Rating Increased to Outperform at Zacks (BWS)
Brown Shoe Co. (NYSE:BWS) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, StockRatingsNetwork.com reports. The firm currently has a $26.60 price objective on the stock. Zacks‘ price target indicates a potential upside of 13.77% from the company’s current price.
In other Brown Shoe Co. news, Insider Daniel Freidman unloaded 10,000 shares of the stock on the open market in a transaction dated Friday, September 20th. The stock was sold at an average price of $22.83, for a total value of $228,300.00. Following the sale, the insider now directly owns 91,514 shares in the company, valued at approximately $2,089,265. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Brown Shoe Co. (NYSE:BWS) traded down 0.38% on Tuesday, hitting $23.38. The stock had a trading volume of 159,235 shares. Brown Shoe Co. has a 52 week low of $14.76 and a 52 week high of $24.78. The stock has a 50-day moving average of $22.88 and a 200-day moving average of $20.57. The company has a market cap of $1.010 billion and a price-to-earnings ratio of 31.04.
Brown Shoe Co. (NYSE:BWS) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.11. The company had revenue of $621.70 million for the quarter, compared to the consensus estimate of $596.73 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts predict that Brown Shoe Co. will post $1.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 1st. Stockholders of record on Friday, September 20th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, September 18th.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Brown Shoe Co. (NYSE:BWS) from a “buy” rating to a “hold” rating in a research note to investors on Monday, August 26th. Analysts at Susquehanna upgraded shares of Brown Shoe Co. (NYSE:BWS) from a “neutral” rating to a “positive” rating in a research note to investors on Thursday, August 22nd. They now have a $28.00 price target on the stock, up previously from $19.00. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $26.87.
Brown Shoe Company, Inc is a global footwear retailer and wholesaler. The Company’s activities include the operation of retail shoe stores and e-commerce Websites, as well as the sourcing and marketing of footwear for women and men.
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