Dillard’s, Inc. (DDS) Shares Gap Down Following Weak Earnings
Shares of Dillard’s, Inc. (NYSE:DDS) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $61.74, but opened at $61.70. Dillard’s shares last traded at $58.50, with a volume of 1,521,184 shares.
The company reported ($0.58) EPS for the quarter, missing the consensus estimate of $0.19 by $0.77. Dillard’s had a net margin of 2.50% and a return on equity of 9.39%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted $0.35 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.28 dividend on an annualized basis and a yield of 0.45%. Dillard’s’s dividend payout ratio (DPR) is presently 5.76%.
A number of equities research analysts have weighed in on the company. J P Morgan Chase & Co restated an “underweight” rating and set a $36.00 price objective (down previously from $49.00) on shares of Dillard’s in a research note on Thursday. ValuEngine lowered Dillard’s from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. BidaskClub upgraded Dillard’s from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Deutsche Bank AG lowered their price objective on Dillard’s from $41.00 to $39.00 and set a “sell” rating for the company in a research note on Friday, May 12th. Finally, TheStreet upgraded Dillard’s from a “c” rating to a “b-” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Dillard’s currently has a consensus rating of “Hold” and an average price target of $55.86.
In related news, major shareholder David Einhorn sold 35,125 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $51.50, for a total transaction of $1,808,937.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 23.27% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verity Asset Management Inc. bought a new position in Dillard’s during the second quarter worth about $225,000. BlackRock Inc. raised its position in Dillard’s by 4.0% in the second quarter. BlackRock Inc. now owns 2,163,602 shares of the company’s stock worth $124,820,000 after buying an additional 83,653 shares in the last quarter. Nationwide Fund Advisors raised its position in Dillard’s by 20.7% in the second quarter. Nationwide Fund Advisors now owns 58,293 shares of the company’s stock worth $3,363,000 after buying an additional 10,003 shares in the last quarter. Ameriprise Financial Inc. raised its position in Dillard’s by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 84,582 shares of the company’s stock worth $4,880,000 after buying an additional 5,745 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its position in Dillard’s by 17.7% in the second quarter. Riverhead Capital Management LLC now owns 40,291 shares of the company’s stock worth $2,324,000 after buying an additional 6,064 shares in the last quarter. Institutional investors and hedge funds own 93.36% of the company’s stock.
The stock’s 50-day moving average price is $64.12 and its 200-day moving average price is $55.96. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 12.3360 and a beta of 1.12.
Dillard’s, Inc is a retailer of fashion apparel, cosmetics and home furnishing. As of January 28, 2017, the Company operated 293 Dillard’s stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods.
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