Zacks: Brokerages Anticipate Sequential Brands Group, Inc. (SQBG) Will Post Quarterly Sales of $44.29 Million
Wall Street analysts forecast that Sequential Brands Group, Inc. (NASDAQ:SQBG) will report sales of $44.29 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sequential Brands Group’s earnings, with estimates ranging from $44.05 million to $44.52 million. Sequential Brands Group reported sales of $41.95 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The company is scheduled to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Sequential Brands Group will report full-year sales of $44.29 million for the current year, with estimates ranging from $173.28 million to $173.75 million. For the next year, analysts expect that the company will post sales of $185.45 million per share, with estimates ranging from $183.25 million to $187.64 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Sequential Brands Group.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The company had revenue of $42.10 million for the quarter, compared to analyst estimates of $39.15 million. Sequential Brands Group had a net margin of 0.99% and a return on equity of 1.29%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share.
SQBG has been the subject of a number of research analyst reports. Wunderlich boosted their price target on Sequential Brands Group from $9.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 15th. Zacks Investment Research upgraded Sequential Brands Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Tuesday, May 16th. Canaccord Genuity set a $6.00 price target on Sequential Brands Group and gave the company a “buy” rating in a report on Thursday, May 4th. ValuEngine downgraded Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, FBR & Co reiterated an “outperform” rating and issued a $7.00 price target on shares of Sequential Brands Group in a report on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $9.06.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Financial & Investment Management Group Ltd. bought a new position in shares of Sequential Brands Group during the second quarter worth approximately $2,106,000. Tocqueville Asset Management L.P. increased its position in shares of Sequential Brands Group by 52.4% in the first quarter. Tocqueville Asset Management L.P. now owns 1,487,407 shares of the textile maker’s stock worth $5,786,000 after buying an additional 511,135 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in shares of Sequential Brands Group by 24.6% in the first quarter. Prescott Group Capital Management L.L.C. now owns 1,825,134 shares of the textile maker’s stock worth $7,100,000 after buying an additional 360,459 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Sequential Brands Group by 1,946.0% in the first quarter. Citadel Advisors LLC now owns 247,735 shares of the textile maker’s stock worth $964,000 after buying an additional 235,627 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Sequential Brands Group by 1,188.5% in the first quarter. Goldman Sachs Group Inc. now owns 194,684 shares of the textile maker’s stock worth $757,000 after buying an additional 179,575 shares during the last quarter. Hedge funds and other institutional investors own 54.19% of the company’s stock.
Sequential Brands Group (SQBG) opened at 2.74 on Monday. The firm has a 50-day moving average of $3.30 and a 200 day moving average of $3.60. Sequential Brands Group has a 52 week low of $2.63 and a 52 week high of $8.49. The stock has a market capitalization of $172.30 million, a price-to-earnings ratio of 101.48 and a beta of 0.64.
About Sequential Brands Group
Sequential Brands Group, Inc owns a portfolio of consumer brands in the fashion, home, athletic and lifestyle categories. The Company’s portfolio of consumer brands includes Martha Stewart, Emeril Lagasse, Jessica Simpson, Joe’s Jeans, William Rast, Ellen Tracy, Revo, AND1 and Avia. The Company’s brands are licensed for a range of product categories, including apparel, footwear, eyewear, fashion accessories and home goods.
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