Stage Stores Trading Down 3.8% Following Weak Earnings (SSI)
Stage Stores (NYSE:SSI) was down 3.8% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings, Analyst Ratings Network.com reports. The stock traded as low as $16.09 and last traded at $16.39, with a volume of 501,929 shares traded. The stock had previously closed at $17.03.
The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.08. The company had revenue of $377.00 million for the quarter, compared to the consensus estimate of $397.60 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Thursday, August 28th.
A number of research firms have recently commented on SSI. Analysts at Telsey Advisory Group cut their price target on shares of Stage Stores from $21.00 to $18.00 in a research note on Friday. They now have a “not rated” rating on the stock. Analysts at Zacks upgraded shares of Stage Stores from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 23rd. They now have a $19.20 price target on the stock. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.70.
The stock has a 50-day moving average of $18.49 and a 200-day moving average of $20.10. The company has a market cap of $518.7 million and a price-to-earnings ratio of 121.64.
Stage Stores, Inc (NYSE:SSI) is a Houston, Texas-based retailer, which operates both department stores and off-price stores.
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