The Finish Line, Inc. (FINL) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS
The Finish Line, Inc. (NASDAQ:FINL) released its quarterly earnings data on Friday. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01, Bloomberg Earnings reports. The firm had revenue of $469.40 million for the quarter, compared to analysts’ expectations of $478.25 million. The Finish Line had a negative net margin of 1.05% and a positive return on equity of 8.97%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. The Finish Line updated its Q3 guidance to ($0.32-0.40) EPS and its FY18 guidance to 0.50-0.60 EPS.
Shares of The Finish Line (FINL) opened at 9.22 on Friday. The Finish Line has a 52 week low of $6.90 and a 52 week high of $24.50. The stock’s 50 day moving average is $11.03 and its 200-day moving average is $13.72. The stock’s market capitalization is $370.15 million.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 25th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Wednesday, August 23rd. The Finish Line’s dividend payout ratio is currently -89.80%.
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Several equities research analysts have recently issued reports on FINL shares. FBR & Co reiterated a “buy” rating and set a $22.00 price objective on shares of The Finish Line in a research report on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and set a $19.00 price objective on shares of The Finish Line in a research report on Friday, June 9th. Barclays PLC reiterated an “equal weight” rating and set a $15.00 price objective (down previously from $18.00) on shares of The Finish Line in a research report on Tuesday, August 29th. Morgan Stanley reduced their price objective on shares of The Finish Line from $13.50 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 13th. Finally, Canaccord Genuity set a $14.00 price objective on shares of The Finish Line and gave the company a “hold” rating in a research report on Thursday, June 22nd. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. The Finish Line presently has an average rating of “Hold” and a consensus price target of $11.55.
In other news, COO Melissa A. Greenwell sold 4,077 shares of the stock in a transaction on Saturday, July 29th. The stock was sold at an average price of $21.67, for a total transaction of $88,348.59. Following the completion of the transaction, the chief operating officer now directly owns 11,862 shares in the company, valued at approximately $257,049.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Melissa A. Greenwell sold 7,525 shares of the stock in a transaction on Saturday, July 15th. The stock was sold at an average price of $22.71, for a total value of $170,892.75. Following the transaction, the chief operating officer now owns 11,862 shares of the company’s stock, valued at $269,386.02. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FINL. Robeco Institutional Asset Management B.V. grew its holdings in shares of The Finish Line by 1,730.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 602,745 shares of the specialty retailer’s stock worth $8,541,000 after purchasing an additional 569,823 shares during the period. Numeric Investors LLC grew its holdings in shares of The Finish Line by 34.6% during the 2nd quarter. Numeric Investors LLC now owns 1,845,310 shares of the specialty retailer’s stock worth $26,148,000 after purchasing an additional 474,200 shares during the period. Bank of America Corp DE grew its holdings in shares of The Finish Line by 388.8% during the 1st quarter. Bank of America Corp DE now owns 541,195 shares of the specialty retailer’s stock worth $7,702,000 after purchasing an additional 430,476 shares during the period. Koch Industries Inc. purchased a new position in shares of The Finish Line during the 2nd quarter worth $242,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of The Finish Line during the 1st quarter worth $3,640,000. Institutional investors and hedge funds own 99.94% of the company’s stock.
About The Finish Line
The Finish Line, Inc is a specialty retailer. The Company is a retailer of athletic shoes, apparel and accessories for men, women and kids, throughout the United States and Puerto Rico. The Company operates through the Finish Line brand. Finish Line is a retailer of athletic shoes, apparel and accessories.
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