Elizabeth Arden Stock Price Down 20.8% After Earnings Miss (RDEN)
Shares of Elizabeth Arden (NASDAQ:RDEN) fell 20.8% during trading on Tuesday after the company announced weaker than expected quarterly earnings, AnalystRatingsNetwork reports. The company traded as low as $28.22 and last traded at $28.23, with a volume of 2,808,172 shares trading hands. The stock had previously closed at $35.63.
The company reported ($0.84) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.01 by $0.85. The company had revenue of $210.80 million for the quarter, compared to the consensus estimate of $256.85 million. During the same quarter last year, the company posted $0.02 earnings per share. Elizabeth Arden’s revenue was down 20.3% compared to the same quarter last year.
A number of research firms have recently commented on RDEN. Analysts at BMO Capital Markets cut their price target on shares of Elizabeth Arden from $30.00 to $27.00 in a research note on Tuesday. Separately, analysts at B. Riley cut their price target on shares of Elizabeth Arden from $26.00 to $23.00 in a research note on Tuesday. Finally, analysts at Telsey Advisory Group raised their price target on shares of Elizabeth Arden from $30.00 to $37.00 in a research note on Wednesday, May 7th. They now have a “not rated” rating on the stock. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Elizabeth Arden presently has a consensus rating of “Hold” and an average price target of $35.01.
The stock has a 50-day moving average of $31.30 and a 200-day moving average of $32.6. The company has a market cap of $842.9 million and a P/E ratio of 35.88.
Elizabeth Arden, Inc is a beauty products company with a range of portfolio of fragrance, skin care and cosmetics brands.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.