Barnes & Noble Inc. (BKS) Cut to Sell at Zacks Investment Research
Barnes & Noble Inc. (NYSE:BKS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Barnes & Noble, Inc. is engaged in the retail sale of trade books (generally hardcover and paperback consumer titles, excluding educational textbooks and specialized religious titles), mass market paperbacks (such as mystery, romance, science fiction and other popular fiction), children’s books, off-price bargain books and magazines. These collectively account for substantially all of the company’s bookstore sales. Bestsellers represent only a small portion of the Barnes & Noble store sales. “
Other equities research analysts also recently issued research reports about the stock. Gabelli downgraded shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Sidoti started coverage on shares of Barnes & Noble in a research note on Thursday, August 18th. They set a “neutral” rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Barnes & Noble currently has an average rating of “Hold” and an average target price of C$17.10.
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Barnes & Noble (NYSE:BKS) traded down 1.86% during midday trading on Tuesday, hitting $10.56. 531,355 shares of the stock traded hands. The company’s market cap is $772.50 million. The firm’s 50-day moving average is $11.27 and its 200-day moving average is $11.80. Barnes & Noble has a 52-week low of $7.25 and a 52-week high of $13.89.
Barnes & Noble (NYSE:BKS) last released its earnings results on Thursday, September 8th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. Barnes & Noble had a negative net margin of 0.10% and a positive return on equity of 6.07%. The firm had revenue of $913.90 million for the quarter, compared to the consensus estimate of $959.65 million. During the same quarter in the previous year, the firm earned ($0.68) earnings per share. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts predict that Barnes & Noble will post $0.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Wednesday, October 5th. Barnes & Noble’s dividend payout ratio (DPR) is -599.94%.
In other Barnes & Noble news, insider Frederic Argir sold 17,377 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of C$11.59, for a total transaction of C$201,399.43. Following the transaction, the insider now owns 73,154 shares in the company, valued at C$847,854.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 19.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mason Street Advisors LLC purchased a new position in Barnes & Noble during the second quarter worth $134,000. Royal Bank of Canada boosted its position in Barnes & Noble by 29.5% in the second quarter. Royal Bank of Canada now owns 42,575 shares of the company’s stock worth $483,000 after buying an additional 9,694 shares during the period. Public Employees Retirement System of Ohio boosted its position in Barnes & Noble by 17.0% in the second quarter. Public Employees Retirement System of Ohio now owns 13,163 shares of the company’s stock worth $149,000 after buying an additional 1,911 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Barnes & Noble by 16.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 463,699 shares of the company’s stock worth $5,263,000 after buying an additional 65,152 shares during the period. Finally, Sterneck Capital Management LLC boosted its position in Barnes & Noble by 0.6% in the second quarter. Sterneck Capital Management LLC now owns 254,064 shares of the company’s stock worth $2,884,000 after buying an additional 1,513 shares during the period. Institutional investors and hedge funds own 75.59% of the company’s stock.
Barnes & Noble Company Profile
Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.
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