Christopher & Banks Sees Strong Trading Volume After Strong Earnings (CBK)
Shares of Christopher & Banks (NYSE:CBK) saw unusually-high trading volume on Wednesday following a better than expected earnings announcement, AnalystRatings.NET reports. Approximately 416,395 shares were traded during mid-day trading, an increase of 67% from the previous session’s volume of 249,951 shares.The stock last traded at $7.22 and had previously closed at $7.29.
The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $103.40 million for the quarter, compared to the consensus estimate of $103.23 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis.
Separately, analysts at Buckingham Research initiated coverage on shares of Christopher & Banks in a research note on Friday, May 16th. They set a “buy” rating on the stock.
The stock’s 50-day moving average is $6.48 and its 200-day moving average is $6.82. The company has a market cap of $263.9 million and a price-to-earnings ratio of 31.70.
Christopher & Banks Corporation is a retailer of women’s apparel, which operates retail stores through its wholly owned subsidiaries.
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