Majestic Wine PLC (WINE) Hits New 1-Year High on Better-Than-Expected Earnings
Majestic Wine PLC (LON:WINE) reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as GBX 428.75 ($5.64) and last traded at GBX 425.50 ($5.60), with a volume of 617340 shares trading hands. The stock had previously closed at GBX 425.50 ($5.60).
The company reported GBX 7.90 ($0.10) EPS for the quarter, topping analysts’ consensus estimates of GBX 7.10 ($0.09) by GBX 0.80 ($0.01). Majestic Wine PLC had a net margin of 0.50% and a return on equity of 2.22%. The firm had revenue of £217.36 million for the quarter.
A number of equities research analysts have recently issued reports on the stock. Peel Hunt upgraded shares of Majestic Wine PLC to a “buy” rating and upped their target price for the company from GBX 380 ($5.00) to GBX 450 ($5.92) in a research note on Thursday. Liberum Capital restated a “buy” rating and issued a GBX 500 ($6.58) target price on shares of Majestic Wine PLC in a research note on Thursday. Finally, Shore Capital restated a “hold” rating on shares of Majestic Wine PLC in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Majestic Wine PLC currently has an average rating of “Hold” and a consensus target price of GBX 405.20 ($5.33).
In other news, insider James Crawford bought 3,500 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average price of GBX 314 ($4.13) per share, for a total transaction of £10,990 ($14,454.82).
Majestic Wine PLC Company Profile
Majestic Wine plc is a wine retailer. The Company acts as a holding company for its subsidiaries. The Company is engaged in the retailing of wines, beers and spirits. The Company operates through four segments: Retail, Commercial, Naked Wines and Lay & Wheeler. The Retail segment is a customer based wine retailer, selling wine, beer and spirits from stores across the United Kingdom, and online, and also incorporates the Company’s French business.
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