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Quiksilver (NYSE:ZQK) shares hit a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement, AnalystRatingsNetwork.com reports. The stock traded as low as $2.65 and last traded at $2.83, with a volume of 5,839,720 shares. The stock had previously closed at $2.88.

The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.23. The company had revenue of $395.70 million for the quarter, compared to the consensus estimate of $440.64 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was down 18.7% on a year-over-year basis.

ZQK has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Quiksilver from an “underperform” rating to a “neutral” rating in a research note on Monday, August 11th. They now have a $3.20 price target on the stock. Analysts at Roth Capital cut their price target on shares of Quiksilver to $4.00 in a research note on Monday, June 9th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $6.53.

The stock has a 50-day moving average of $3.10 and a 200-day moving average of $5.29. The company’s market cap is $483.2 million.

Quiksilver, Inc is a diversified company that designs, develops and distributes branded apparel, footwear, accessories and related products, catering to the casual, youth lifestyle associated with the sports of surfing, skateboarding and snowboarding.

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