Barnes & Noble Inc. (BKS) Downgraded by Zacks Investment Research
Barnes & Noble Inc. (NYSE:BKS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “
BKS has been the subject of a number of other research reports. Sidoti began coverage on shares of Barnes & Noble in a research report on Thursday, August 18th. They set a “neutral” rating and a $13.00 price objective for the company. Gabelli cut shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Barnes & Noble has an average rating of “Hold” and a consensus price target of C$17.10.
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Shares of Barnes & Noble (NYSE:BKS) traded down 1.86% during trading on Tuesday, hitting $10.56. The stock had a trading volume of 531,355 shares. Barnes & Noble has a one year low of $7.25 and a one year high of $13.89. The stock’s market cap is $772.50 million. The stock’s 50 day moving average price is $11.27 and its 200-day moving average price is $11.80.
Barnes & Noble (NYSE:BKS) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. The business earned $913.90 million during the quarter, compared to the consensus estimate of $959.65 million. Barnes & Noble had a negative net margin of 0.10% and a positive return on equity of 6.07%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.68) EPS. Analysts expect that Barnes & Noble will post $0.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.60 annualized dividend and a yield of 5.68%. Barnes & Noble’s dividend payout ratio is presently -599.94%.
In other Barnes & Noble news, insider Frederic Argir sold 17,377 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of C$11.59, for a total value of C$201,399.43. Following the completion of the transaction, the insider now owns 73,154 shares of the company’s stock, valued at approximately C$847,854.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.00% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its position in shares of Barnes & Noble by 1.3% in the second quarter. Arizona State Retirement System now owns 31,417 shares of the company’s stock valued at $357,000 after buying an additional 400 shares in the last quarter. Pinnacle Holdings LLC boosted its position in shares of Barnes & Noble by 1.3% in the second quarter. Pinnacle Holdings LLC now owns 71,194 shares of the company’s stock valued at $808,000 after buying an additional 920 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Barnes & Noble by 3.7% in the second quarter. Thrivent Financial for Lutherans now owns 29,240 shares of the company’s stock valued at $332,000 after buying an additional 1,030 shares in the last quarter. Profund Advisors LLC boosted its position in shares of Barnes & Noble by 7.2% in the second quarter. Profund Advisors LLC now owns 19,942 shares of the company’s stock valued at $226,000 after buying an additional 1,332 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Barnes & Noble by 6.3% in the second quarter. Moors & Cabot Inc. now owns 25,417 shares of the company’s stock valued at $291,000 after buying an additional 1,512 shares in the last quarter. 75.59% of the stock is owned by institutional investors.
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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