$992.66 Million in Sales Expected for Cabela’s Inc (NYSE:CAB) This Quarter
Brokerages forecast that Cabela’s Inc (NYSE:CAB) will post $992.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cabela’s’ earnings, with the highest sales estimate coming in at $1.01 billion and the lowest estimate coming in at $978.60 million. Cabela’s reported sales of $996.50 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The company is scheduled to report its next earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Cabela’s will report full-year sales of $992.66 million for the current financial year, with estimates ranging from $4.03 billion to $4.10 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.17 billion per share, with estimates ranging from $4.12 billion to $4.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Cabela’s.
Cabela’s (NYSE:CAB) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.04. Cabela’s had a net margin of 3.29% and a return on equity of 8.60%. The business had revenue of $890.40 million during the quarter, compared to analyst estimates of $906.06 million. During the same period in the previous year, the company posted $0.59 earnings per share. Cabela’s’s revenue was down 4.2% compared to the same quarter last year.
A number of analysts recently commented on CAB shares. BidaskClub cut Cabela’s from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research cut Cabela’s from a “hold” rating to a “sell” rating in a report on Friday, August 4th. DA Davidson restated a “neutral” rating and set a $61.50 target price on shares of Cabela’s in a report on Saturday, June 3rd. Northcoast Research cut Cabela’s from a “buy” rating to a “neutral” rating in a report on Wednesday, July 5th. Finally, Forward View restated a “buy” rating and set a $61.50 target price on shares of Cabela’s in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $64.14.
Shares of Cabela’s (CAB) opened at 53.61 on Friday. The firm has a market capitalization of $3.70 billion, a P/E ratio of 27.81 and a beta of 0.14. Cabela’s has a one year low of $45.00 and a one year high of $63.60. The firm has a 50-day moving average of $57.66 and a 200-day moving average of $53.73.
Several institutional investors have recently added to or reduced their stakes in CAB. BlackRock Inc. boosted its position in Cabela’s by 15,917.0% in the first quarter. BlackRock Inc. now owns 3,970,133 shares of the company’s stock valued at $210,854,000 after buying an additional 3,945,346 shares during the period. OZ Management LP acquired a new position in Cabela’s during the first quarter valued at $116,952,000. Sand Grove Capital Management LLP boosted its position in Cabela’s by 334.0% in the second quarter. Sand Grove Capital Management LLP now owns 1,332,219 shares of the company’s stock valued at $79,427,000 after buying an additional 1,025,242 shares during the period. Milestone Group Inc. acquired a new position in Cabela’s during the first quarter valued at $34,640,000. Finally, Driehaus Capital Management LLC acquired a new position in Cabela’s during the first quarter valued at $28,261,000. Institutional investors and hedge funds own 57.82% of the company’s stock.
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Cabela’s Incorporated is an omni-channel retailer of hunting, fishing, camping, shooting sports and related outdoor merchandise. The Company offers its customers a selection of national and regional brand products, including its Cabela’s brand. The Company’s segments include Merchandising and Financial Services.
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