Perry Ellis International Hits New 12-Month High on Strong Earnings (PERY)
Perry Ellis International (NASDAQ:PERY) reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings, American Banking and Market News reports. The company traded as high as $21.29 and last traded at $20.01, with a volume of 355,132 shares traded. The stock had previously closed at $19.29.
The company reported ($0.08) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.13) by $0.05. The company had revenue of $196.00 million for the quarter, compared to the consensus estimate of $208.00 million. During the same quarter last year, the company posted ($0.15) earnings per share. Perry Ellis International’s revenue was down 7.4% compared to the same quarter last year.
PERY has been the subject of a number of recent research reports. Analysts at Sidoti downgraded shares of Perry Ellis International from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 13th. Separately, analysts at Zacks upgraded shares of Perry Ellis International from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 23rd. They now have a $19.80 price target on the stock. Finally, analysts at TheStreet upgraded shares of Perry Ellis International from a “sell” rating to a “hold” rating in a research note on Wednesday, June 11th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.45.
The stock has a 50-day moving average of $18.50 and a 200-day moving average of $16.07. The company’s market cap is $297.2 million.
Perry Ellis International, Inc, is an apparel company in the United States. The Company manages a portfolio of brands.
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