Wall Street brokerages expect that Express, Inc. (NYSE:EXPR) will report sales of $637.73 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Express’ earnings. The highest sales estimate is $655.70 million and the lowest is $626.31 million. Express reported sales of $693.81 million during the same quarter last year, which indicates a negative year-over-year growth rate of 8.1%. The firm is expected to report its next earnings report before the market opens on Wednesday, March 13th.
According to Zacks, analysts expect that Express will report full-year sales of $2.13 billion for the current year, with estimates ranging from $2.11 billion to $2.14 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.11 billion, with estimates ranging from $2.08 billion to $2.17 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Express.
Express (NYSE:EXPR) last posted its quarterly earnings data on Thursday, November 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Express had a return on equity of 5.94% and a net margin of 1.84%. The firm had revenue of $515.00 million for the quarter, compared to the consensus estimate of $505.46 million. During the same quarter in the prior year, the business earned $0.08 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year.
Several research firms have issued reports on EXPR. ValuEngine downgraded Express from a “buy” rating to a “hold” rating in a report on Friday, November 16th. B. Riley set a $7.00 price objective on Express and gave the stock a “hold” rating in a report on Friday, November 30th. MKM Partners set a $6.00 price objective on Express and gave the stock a “hold” rating in a report on Thursday, December 6th. Zacks Investment Research downgraded Express from a “buy” rating to a “hold” rating in a report on Tuesday, December 4th. Finally, Wedbush reduced their price objective on Express from $10.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Express currently has an average rating of “Hold” and an average price target of $7.00.
NYSE:EXPR traded up $0.11 during trading hours on Wednesday, hitting $5.31. 3,178,392 shares of the stock were exchanged, compared to its average volume of 1,431,772. Express has a twelve month low of $4.83 and a twelve month high of $11.69. The company has a market cap of $357.04 million, a price-to-earnings ratio of 14.75 and a beta of 1.14.
In related news, major shareholder Contrarius Investment Manageme sold 240,425 shares of the business’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $5.36, for a total value of $1,288,678.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Express by 3.6% in the 3rd quarter. BlackRock Inc. now owns 10,648,459 shares of the company’s stock valued at $117,772,000 after buying an additional 371,547 shares during the period. Vanguard Group Inc lifted its holdings in Express by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 7,256,644 shares of the company’s stock worth $80,259,000 after buying an additional 98,995 shares during the last quarter. Vanguard Group Inc. raised its stake in Express by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,256,644 shares of the company’s stock valued at $80,259,000 after acquiring an additional 98,995 shares in the last quarter. Contrarius Investment Management Ltd increased its position in shares of Express by 2.6% during the 4th quarter. Contrarius Investment Management Ltd now owns 6,111,868 shares of the company’s stock valued at $31,232,000 after purchasing an additional 152,761 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Express by 10.7% in the second quarter. Bank of New York Mellon Corp now owns 4,172,692 shares of the company’s stock worth $38,179,000 after buying an additional 403,825 shares during the period.
Express, Inc operates as a specialty apparel and accessories retailer. It offers apparel and accessories for women and men between 20 and 30 years across various aspects of lifestyles, including work, casual, jeanswear, and going-out occasions. The company sells its products through its e-commerce Website, express.com; mobile app; and franchisees Express locations in Latin America.
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