Zale Corp Stock Rating Lowered by Zacks (ZLC)
Zale Corp (NYSE:ZLC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, American Banking News reports. They currently have a $14.40 price objective on the stock. Zacks‘ price objective would suggest a potential downside of 4.82% from the company’s current price.
Zale Corp (NYSE:ZLC) traded up 2.11% during mid-day trading on Tuesday, hitting $15.4499. The stock had a trading volume of 383,698 shares. Zale Corp has a 1-year low of $3.76 and a 1-year high of $14.99. The stock’s 50-day moving average is $10.64 and its 200-day moving average is $7.30. The company has a market cap of $506.2 million and a P/E ratio of 63.04.
Zale Corp (NYSE:ZLC) last announced its earnings results on Wednesday, August 28th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.08. The company had revenue of $417.00 million for the quarter, compared to the consensus estimate of $409.04 million. During the same quarter in the previous year, the company posted ($0.61) earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts expect that Zale Corp will post $0.48 EPS for the current fiscal year.
Separately, analysts at Northcoast Research downgraded shares of Zale Corp from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.80.
Zale Corporation, through its wholly owned subsidiaries, is a specialty retailer of fine jewelry. As of July 31, 2010, it operated 1,218 specialty retail jewelry stores and 672 kiosks located mainly in shopping malls throughout the United States, Canada and Puerto Rico.
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