Guess? Shares Down 9% on Disappointing Earnings (GES)
Guess? (NYSE:GES) traded down 9% on Thursday following a weaker than expected earnings announcement, Analyst Ratings.Net reports. The company traded as low as $23.24 and last traded at $23.34, with a volume of 3,925,786 shares traded. The stock had previously closed at $25.64.
The company reported $0.26 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.03. The company had revenue of $608.60 million for the quarter, compared to the consensus estimate of $617.91 million. During the same quarter last year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 3.51%.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Guess? in a research note on Thursday. They now have a $25.00 price target on the stock, down previously from $27.00. Separately, analysts at Telsey Advisory Group cut their price target on shares of Guess? from $31.00 to $25.00 in a research note on Thursday. They now have a “not rated” rating on the stock. Finally, analysts at Wunderlich reiterated a “buy” rating on shares of Guess? in a research note on Thursday. They now have a $27.00 price target on the stock, down previously from $31.00. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.92.
The stock has a 50-day moving average of $26.41 and a 200-day moving average of $27.41. The company has a market cap of $1.994 billion and a P/E ratio of 15.53. Guess? also was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 3,251 put options on the stock. This represents an increase of 444% compared to the average volume of 598 put options.
Guess?, Inc (NYSE:GES) designs, markets, distributes and licenses apparel and accessories for men, women and children.
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