Analysts Issue Forecasts for Express, Inc.’s FY2018 Earnings (EXPR)
Express, Inc. (NYSE:EXPR) – Research analysts at SunTrust Banks lifted their FY2018 EPS estimates for shares of Express in a research note issued on Thursday. SunTrust Banks analyst P. Quintiliano now expects that the company will post earnings of $0.49 per share for the year, up from their prior estimate of $0.47. SunTrust Banks currently has a “Hold” rating and a $10.00 price target on the stock. SunTrust Banks also issued estimates for Express’ Q4 2018 earnings at $0.44 EPS and FY2019 earnings at $0.63 EPS.
Express (NYSE:EXPR) last posted its earnings results on Thursday, November 30th. The company reported $0.08 EPS for the quarter, meeting the Zacks’ 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 quarter 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.
A number of other research firms have also recently issued reports on EXPR. BMO Capital Markets set a $7.00 price target on shares of Express and gave the stock a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research raised shares of Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub cut shares of Express from a “sell” rating to a “strong sell” rating in a report on Thursday, October 12th. B. Riley reaffirmed a “neutral” rating on shares of Express in a report on Wednesday, November 1st. Finally, TheStreet raised shares of Express from a “d+” rating to a “c-” rating in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.13.
Express (EXPR) traded up $0.40 during trading hours on Monday, reaching $11.05. 3,379,136 shares of the company were exchanged, compared to its average volume of 2,371,094. The stock has a market capitalization of $825.85, a PE ratio of 33.81 and a beta of 1.55. Express has a 12 month low of $5.28 and a 12 month high of $12.40.
Express declared that its board has initiated a stock buyback plan on Thursday, November 30th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of hedge funds have recently added to or reduced their stakes in EXPR. State of Alaska Department of Revenue lifted its holdings in Express by 77.6% during the second quarter. State of Alaska Department of Revenue now owns 15,361 shares of the company’s stock valued at $103,000 after purchasing an additional 6,711 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Express during the second quarter valued at $114,000. Municipal Employees Retirement System of Michigan lifted its holdings in Express by 3.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 18,490 shares of the company’s stock valued at $125,000 after purchasing an additional 620 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Express by 29.5% during the second quarter. Public Employees Retirement System of Ohio now owns 20,739 shares of the company’s stock valued at $140,000 after purchasing an additional 4,722 shares in the last quarter. Finally, Hartford Investment Management Co. lifted its holdings in Express by 96.3% during the second quarter. Hartford Investment Management Co. now owns 21,000 shares of the company’s stock valued at $142,000 after purchasing an additional 10,300 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.
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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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