Express Trading Down 9.9% on Disappointing Earnings (EXPR)
Express (NASDAQ:EXPR) fell 9.9% on Friday following a weaker than expected earnings announcement, Analyst Ratings Net reports. The company traded as low as $11.80 and last traded at $12.28, with a volume of 7,925,226 shares traded. The stock had previously closed at $13.63.
The company reported $0.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.14 by $0.08. The company had revenue of $460.70 million for the quarter, compared to the consensus estimate of $464.06 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis.
A number of research firms have recently commented on EXPR. Analysts at Brean Capital cut their price target on shares of Express from $18.00 to $16.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at FBR Capital Markets cut their price target on shares of Express from $16.00 to $13.00 in a research note on Friday. They now have a “market perform” rating on the stock. Finally, analysts at Zacks upgraded shares of Express from an “underperform” rating to a “neutral” rating in a research note on Monday, May 19th. They now have a $15.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Express currently has a consensus rating of “Buy” and a consensus target price of $19.36.
The stock’s 50-day moving average is $14.44 and its 200-day moving average is $17.64. The company has a market cap of $1.035 billion and a price-to-earnings ratio of 9.95.
Express, Inc (NASDAQ:EXPR) is a specialty apparel and accessory retailer offering both women’s and men’s merchandise.
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