Deckers Outdoor Corporation to Post FY2019 Earnings of $4.90 Per Share, Jefferies Group Forecasts (DECK)
Deckers Outdoor Corporation (NYSE:DECK) – Investment analysts at Jefferies Group lowered their FY2019 earnings estimates for Deckers Outdoor in a research note issued on Tuesday. Jefferies Group analyst R. Konik now forecasts that the textile maker will post earnings per share of $4.90 for the year, down from their prior estimate of $5.20. Jefferies Group has a “Hold” rating on the stock.
Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.52. Deckers Outdoor had a return on equity of 15.23% and a net margin of 1.80%. The company had revenue of $482.50 million for the quarter, compared to analysts’ expectations of $440.11 million. During the same period in the previous year, the firm posted $1.21 EPS. Deckers Outdoor’s revenue was down .7% compared to the same quarter last year.
Several other research firms have also recently issued reports on DECK. UBS Group cut Deckers Outdoor to a “neutral” rating in a report on Monday, October 16th. Buckingham Research set a $68.00 price objective on Deckers Outdoor and gave the stock a “hold” rating in a report on Friday, October 27th. Telsey Advisory Group boosted their target price on Deckers Outdoor from $72.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. BidaskClub upgraded Deckers Outdoor from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies restated a “hold” rating and set a $66.00 target price on shares of Deckers Outdoor in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.69.
Deckers Outdoor (NYSE DECK) remained flat at $$78.96 during mid-day trading on Wednesday. The stock had a trading volume of 366,605 shares, compared to its average volume of 571,510. The company has a current ratio of 2.43, a quick ratio of 1.26 and a debt-to-equity ratio of 0.03. Deckers Outdoor has a 1 year low of $44.00 and a 1 year high of $80.96. The company has a market capitalization of $2,520.00, a price-to-earnings ratio of 78.96, a PEG ratio of 1.69 and a beta of 1.26.
Deckers Outdoor announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 26th that permits the company to repurchase $335.00 million in outstanding shares. This repurchase authorization permits the textile maker to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DECK. Flinton Capital Management LLC lifted its holdings in Deckers Outdoor by 74.2% in the second quarter. Flinton Capital Management LLC now owns 1,728 shares of the textile maker’s stock valued at $118,000 after acquiring an additional 736 shares during the last quarter. Riverhead Capital Management LLC raised its position in Deckers Outdoor by 75.5% in the second quarter. Riverhead Capital Management LLC now owns 1,931 shares of the textile maker’s stock valued at $132,000 after purchasing an additional 831 shares during the period. PNC Financial Services Group Inc. raised its position in Deckers Outdoor by 91.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,543 shares of the textile maker’s stock valued at $175,000 after purchasing an additional 1,213 shares during the period. Parallax Volatility Advisers L.P. raised its position in Deckers Outdoor by 401.9% in the second quarter. Parallax Volatility Advisers L.P. now owns 2,654 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 3,533 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in Deckers Outdoor in the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.
Deckers Outdoor Company Profile
Deckers Outdoor Corporation is engaged in designing, marketing and distributing footwear, apparel and accessories for both everyday casual lifestyle use and high performance activities. The Company’s segments include operations of its brands, such as UGG, Teva, Sanuk and other brands; wholesale divisions, and Direct-to-Consumer (DTC) business, which includes E-Commerce business and retail store business.
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