$477.43 Million in Sales Expected for Express, Inc. (NYSE:EXPR) This Quarter
Wall Street analysts forecast that Express, Inc. (NYSE:EXPR) will post $477.43 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Express’ earnings, with estimates ranging from $474.49 million to $482.20 million. Express reported sales of $504.77 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The firm is expected to issue its next earnings report on Wednesday, August 23rd.
On average, analysts expect that Express will report full year sales of $477.43 million for the current year, with estimates ranging from $2.11 billion to $2.13 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.13 billion per share, with estimates ranging from $2.09 billion to $2.17 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Express.
Express (NYSE:EXPR) last issued its earnings results on Thursday, June 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.05. The company had revenue of $467.03 million for the quarter, compared to analyst estimates of $468 million. Express had a net margin of 1.85% and a return on equity of 5.83%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS.
Several research analysts recently commented on EXPR shares. BMO Capital Markets set a $7.00 target price on shares of Express and gave the stock a “hold” rating in a report on Thursday. FBR & Co restated a “hold” rating and set a $9.00 target price on shares of Express in a report on Wednesday, March 15th. MKM Partners restated a “neutral” rating and set a $7.00 target price (down previously from $10.00) on shares of Express in a report on Friday, June 2nd. Morgan Stanley increased their target price on shares of Express from $7.50 to $10.50 and gave the stock an “equal weight” rating in a report on Wednesday, June 14th. Finally, Mizuho cut shares of Express from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $10.00 in a report on Thursday, March 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Express has a consensus rating of “Hold” and an average price target of $11.05.
Several hedge funds have recently added to or reduced their stakes in EXPR. BlueCrest Capital Management Ltd acquired a new stake in shares of Express during the first quarter worth approximately $131,000. Karp Capital Management Corp purchased a new position in Express during the first quarter worth about $132,000. Public Employees Retirement System of Ohio increased its position in Express by 21.1% in the first quarter. Public Employees Retirement System of Ohio now owns 16,017 shares of the company’s stock worth $146,000 after buying an additional 2,795 shares in the last quarter. Mason Street Advisors LLC increased its position in Express by 7.0% in the first quarter. Mason Street Advisors LLC now owns 18,335 shares of the company’s stock worth $167,000 after buying an additional 1,202 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in Express during the fourth quarter worth about $178,000. Institutional investors own 97.05% of the company’s stock.
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Shares of Express (EXPR) traded up 1.74% during midday trading on Friday, hitting $6.43. 677,046 shares of the company’s stock were exchanged. The firm has a market cap of $504.40 million, a price-to-earnings ratio of 12.61 and a beta of 1.46. The company has a 50-day moving average of $7.15 and a 200-day moving average of $9.29. Express has a 52 week low of $5.96 and a 52 week high of $16.38.
Express Company Profile
Express, Inc is a specialty apparel and accessories retailer offering both women’s and men’s merchandise. The Company targets women and men between 20 and 30 years old. It offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeanswear and going-out occasions.
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