The Men's Wearhouse Chairman Sells $144,135 in Stock (MW)
The Men's Wearhouse (NYSE:MW) Chairman David H. Edwab unloaded 2,605 shares of The Men's Wearhouse stock on the open market in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $55.33, for a total value of $144,134.65. Following the completion of the sale, the chairman now directly owns 69,217 shares of the company’s stock, valued at approximately $3,829,777. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
MW has been the subject of a number of recent research reports. Analysts at Cowen and Company upgraded shares of The Men's Wearhouse from a “market perform” rating to an “outperform” rating in a research note on Wednesday. They now have a $65.00 price target on the stock. Analysts at Mizuho upgraded shares of The Men's Wearhouse from a “neutral” rating to a “buy” rating in a research note on Monday, March 31st. They now have a $60.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The Men's Wearhouse currently has a consensus rating of “Buy” and a consensus target price of $50.00.
The Men's Wearhouse (NYSE:MW) traded down 1.46% during mid-day trading on Thursday, hitting $55.16. 383,612 shares of the company’s stock traded hands. The Men's Wearhouse has a 52 week low of $32.46 and a 52 week high of $58.80. The stock has a 50-day moving average of $51.98 and a 200-day moving average of $50.28. The company has a market cap of $2.646 billion and a P/E ratio of 40.57.
The Men's Wearhouse (NYSE:MW) last announced its earnings results on Thursday, June 5th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $63.05 million for the quarter, compared to the consensus estimate of $629.66 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts predict that The Men's Wearhouse will post $2.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Tuesday, September 16th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Friday, September 12th.
The Men’s Wearhouse, Inc is a specialty retailer of men’s suits and a provider of tuxedo rental product in the United States and Canada.
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