Wedbush Comments on Buckle Inc.’s Q3 2017 Earnings (BKE)
Buckle Inc. (NYSE:BKE) – Equities research analysts at Wedbush decreased their Q3 2017 EPS estimates for shares of Buckle in a research note issued on Friday. Wedbush analyst M. Brown now anticipates that the firm will earn $0.55 per share for the quarter, down from their previous forecast of $0.57. Wedbush has a “Neutral” rating and a $21.00 price target on the stock. Wedbush also issued estimates for Buckle’s Q4 2017 earnings at $0.91 EPS, FY2017 earnings at $2.27 EPS, Q1 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.92 EPS, FY2018 earnings at $2.26 EPS and FY2019 earnings at $2.27 EPS.
Buckle (NYSE:BKE) last issued its earnings results on Friday, August 19th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Buckle had a return on equity of 30.53% and a net margin of 12.06%. The business had revenue of $212.20 million for the quarter. During the same period in the prior year, the company earned $0.49 EPS. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year.
A number of other research analysts also recently weighed in on BKE. KeyCorp reaffirmed an “equal weight” rating on shares of Buckle in a research note on Sunday, June 26th. Deutsche Bank AG reaffirmed a “sell” rating and set a $22.00 price target on shares of Buckle in a research note on Tuesday, July 5th. Finally, Zacks Investment Research raised Buckle from a “strong sell” rating to a “hold” rating in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.80.
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Buckle (NYSE:BKE) opened at 21.20 on Monday. The stock’s 50 day moving average price is $24.86 and its 200 day moving average price is $26.60. The company has a market capitalization of $1.02 billion, a P/E ratio of 7.92 and a beta of 1.20. Buckle has a 52 week low of $20.85 and a 52 week high of $36.73.
Several institutional investors have recently added to or reduced their stakes in BKE. Teacher Retirement System of Texas raised its position in Buckle by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,069 shares of the company’s stock valued at $106,000 after buying an additional 500 shares in the last quarter. BlackRock Inc. raised its position in Buckle by 129.0% in the first quarter. BlackRock Inc. now owns 4,186 shares of the company’s stock valued at $142,000 after buying an additional 2,358 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Buckle by 21.8% in the second quarter. Public Employees Retirement System of Ohio now owns 4,929 shares of the company’s stock valued at $128,000 after buying an additional 883 shares in the last quarter. Mason Street Advisors LLC acquired a new position in Buckle during the second quarter valued at about $142,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Buckle during the second quarter valued at about $200,000. 65.35% of the stock is owned by institutional investors.
In other news, VP Kelli D. Molczyk sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $26.71, for a total value of $106,840.00. Following the completion of the transaction, the vice president now directly owns 21,163 shares of the company’s stock, valued at $565,263.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kyle Hanson sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $26.25, for a total value of $26,250.00. Following the completion of the transaction, the vice president now directly owns 25,400 shares of the company’s stock, valued at $666,750. The disclosure for this sale can be found here. 41.80% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Wednesday, October 12th. Buckle’s dividend payout ratio (DPR) is presently 37.45%.
Buckle Company Profile
The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear. The Company provides customer services, such as free hemming, free gift-wrapping, easy layaways, the Buckle private label credit card, and a frequent shopper program.
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