Express, Inc. (NYSE:EXPR) – Equities researchers at SunTrust Banks issued their FY2020 earnings per share (EPS) estimates for shares of Express in a report released on Friday. SunTrust Banks analyst P. Quintiliano anticipates that the company will post earnings of $0.70 per share for the year. SunTrust Banks currently has a “Hold” rating and a $8.00 price target on the stock.
Several other brokerages have also issued reports on EXPR. Zacks Investment Research lowered shares of Express from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub lowered shares of Express from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 12th. B. Riley reissued a “neutral” rating on shares of Express in a research note on Wednesday, November 1st. TheStreet raised shares of Express from a “d+” rating to a “c-” rating in a research note on Thursday, November 16th. Finally, BMO Capital Markets set a $10.00 target price on shares of Express and gave the stock a “hold” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Express has a consensus rating of “Hold” and a consensus target price of $8.88.
Express (NYSE:EXPR) last posted its quarterly earnings data on Thursday, November 30th. The company reported $0.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Express had a net margin of 0.60% and a return on equity of 3.85%. The company had revenue of $498.70 million during the quarter, compared to analysts’ expectations of $487.38 million. During the same period in the prior year, the company posted $0.15 earnings per share. Express’s revenue for the quarter was down 1.5% compared to the same quarter last year.
Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its holdings in shares of Express by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 591,208 shares of the company’s stock valued at $3,992,000 after purchasing an additional 25,422 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Express in the second quarter valued at about $33,597,000. First Eagle Investment Management LLC purchased a new stake in shares of Express in the third quarter valued at about $1,055,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Express by 32.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 445,663 shares of the company’s stock valued at $3,012,000 after purchasing an additional 110,287 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Express by 13.9% in the second quarter. California Public Employees Retirement System now owns 396,300 shares of the company’s stock valued at $2,675,000 after purchasing an additional 48,500 shares during the last quarter. 99.05% of the stock is currently owned by hedge funds and other institutional investors.
Express announced that its Board of Directors has approved a stock buyback plan on Thursday, November 30th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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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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