Dillard’s, Inc. (NYSE:DDS) Shares Down 15.9% Following Weak Earnings
Dillard’s, Inc. (NYSE:DDS)’s share price was down 15.9% during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $59.33 and last traded at $61.70, with a volume of 5,461,867 shares traded. The stock had previously closed at $73.34.
The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.77. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.44 billion. Dillard’s had a return on equity of 9.39% and a net margin of 2.50%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, June 30th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.28 annualized dividend and a dividend yield of 0.45%. Dillard’s’s dividend payout ratio is currently 5.76%.
Several research analysts have recently weighed in on DDS shares. BidaskClub cut Dillard’s from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised Dillard’s from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. ValuEngine cut Dillard’s from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $36.00 price objective (down from $49.00) on shares of Dillard’s in a research report on Thursday. Finally, Deutsche Bank AG upped their price objective on Dillard’s from $39.00 to $42.00 and gave the stock a “sell” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Dillard’s presently has a consensus rating of “Hold” and an average target price of $55.86.
In related news, major shareholder David Einhorn sold 35,125 shares of the company’s stock in a transaction dated 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 SEC, which is available at this hyperlink. Corporate insiders own 23.27% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC raised its stake in Dillard’s by 0.5% in the second quarter. Aperio Group LLC now owns 14,433 shares of the company’s stock valued at $833,000 after buying an additional 74 shares during the last quarter. Horrell Capital Management Inc. raised its stake in Dillard’s by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the company’s stock valued at $1,424,000 after buying an additional 100 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Dillard’s by 3.3% in the second quarter. Wedge Capital Management L L P NC now owns 6,857 shares of the company’s stock valued at $396,000 after buying an additional 216 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Dillard’s by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 23,342 shares of the company’s stock valued at $1,219,000 after buying an additional 234 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in Dillard’s by 16.4% in the second quarter. LS Investment Advisors LLC now owns 1,995 shares of the company’s stock valued at $115,000 after buying an additional 281 shares during the last quarter. Institutional investors and hedge funds own 93.36% of the company’s stock.
The stock has a 50 day moving average of $63.80 and a 200-day moving average of $55.91. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 12.97 and a beta of 1.12.
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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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