DSW Shares Gap Up on Strong Earnings (DSW)
DSW (NYSE:DSW) gapped up before the market opened on Tuesday following a better than expected earnings announcement, ARN reports. The stock had previously closed at $26.53, but opened at $28.37. DSW shares last traded at $30.78, with a volume of 5,255,236 shares traded.
The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.05. The company had revenue of $587.00 million for the quarter, compared to the consensus estimate of $563.66 million. During the same quarter last year, the company posted $0.49 earnings per share. DSW’s revenue was up 4.4% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of DSW in a research note on Friday. Separately, analysts at Sterne Agee downgraded shares of DSW from a “neutral” rating to an “underperform” rating in a research note on Monday, July 28th. They now have a $23.00 price target on the stock. Finally, analysts at Goldman Sachs upgraded shares of DSW from a “neutral” rating to a “buy” rating in a research note on Monday, June 16th. They now have a $35.00 price target on the stock, up previously from $27.00. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $31.00.
The stock has a 50-day moving average of $27.42 and a 200-day moving average of $32.13. The company has a market cap of $3.033 billion and a P/E ratio of 16.79. DSW also saw some unusual options trading on Monday. Investors acquired 4,344 call options on the stock. This represents an increase of 550% compared to the typical volume of 668 call options.
DSW Inc (NYSE:DSW) is a United States branded footwear and accessories specialty retailer operating 326 shoe stores in 40 states as of January 28, 2012, and dsw.
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