Q3 2018 Earnings Forecast for DSW Inc. Issued By Wedbush (DSW)
DSW Inc. (NYSE:DSW) – Analysts at Wedbush reduced their Q3 2018 earnings per share (EPS) estimates for DSW in a research report issued to clients and investors on Wednesday. Wedbush analyst C. Svezia now forecasts that the company will post earnings of $0.54 per share for the quarter, down from their previous forecast of $0.55. Wedbush has a “Neutral” rating and a $20.00 price objective on the stock. Wedbush also issued estimates for DSW’s Q4 2018 earnings at $0.26 EPS.
DSW (NYSE:DSW) last released its quarterly earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.09. DSW had a return on equity of 12.12% and a net margin of 4.41%. The company had revenue of $680.40 million during the quarter, compared to analysts’ expectations of $666.66 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: This piece of content was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/11/02/q3-2018-earnings-forecast-for-dsw-inc-issued-by-wedbush-dsw.html.
A number of other equities research analysts also recently commented on DSW. Jefferies Group LLC set a $20.00 price objective on DSW and gave the company a “hold” rating in a research report on Wednesday, August 23rd. B. Riley reiterated a “buy” rating and set a $22.00 price objective on shares of DSW in a research report on Monday, August 28th. Zacks Investment Research upgraded DSW from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Thursday, September 28th. Citigroup Inc. increased their price objective on DSW from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, August 23rd. Finally, Buckingham Research set a $18.00 price objective on DSW and gave the company a “hold” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $21.75.
Several large investors have recently bought and sold shares of DSW. BlackRock Inc. raised its stake in shares of DSW by 42,735.5% in the first quarter. BlackRock Inc. now owns 8,346,505 shares of the company’s stock valued at $172,606,000 after acquiring an additional 8,327,020 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of DSW by 41.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,974,645 shares of the company’s stock valued at $105,753,000 after purchasing an additional 1,748,831 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of DSW by 15.8% in the first quarter. Vanguard Group Inc. now owns 5,784,070 shares of the company’s stock valued at $119,615,000 after purchasing an additional 788,073 shares in the last quarter. FMR LLC increased its holdings in shares of DSW by 9.3% in the second quarter. FMR LLC now owns 6,291,973 shares of the company’s stock valued at $111,368,000 after purchasing an additional 533,713 shares in the last quarter. Finally, GLG Partners LP acquired a new stake in shares of DSW in the second quarter valued at approximately $9,061,000. Institutional investors own 85.81% of the company’s stock.
In other news, Chairman Deborah L. Ferree sold 10,073 shares of DSW stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $21.53, for a total value of $216,871.69. Following the completion of the transaction, the chairman now owns 113,920 shares in the company, valued at $2,452,697.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William L. Jordan sold 2,666 shares of DSW stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $20.03, for a total transaction of $53,399.98. Following the completion of the transaction, the executive vice president now owns 44,254 shares of the company’s stock, valued at approximately $886,407.62. The disclosure for this sale can be found here. Insiders sold 127,891 shares of company stock valued at $2,559,458 in the last quarter. 20.40% of the stock is currently owned by corporate insiders.
DSW announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 22nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 33.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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