Zumiez Inc. (NASDAQ:ZUMZ) – Investment analysts at Wedbush reduced their Q3 2020 earnings estimates for Zumiez in a research report issued to clients and investors on Thursday, January 10th. Wedbush analyst J. Redding now forecasts that the apparel and footwear maker will earn $0.55 per share for the quarter, down from their previous forecast of $0.57.
Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings results on Thursday, December 6th. The apparel and footwear maker reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.06. Zumiez had a return on equity of 10.06% and a net margin of 3.62%. The company had revenue of $248.80 million for the quarter, compared to analyst estimates of $248.70 million. During the same quarter in the prior year, the firm posted $0.48 EPS. Zumiez’s quarterly revenue was up 1.2% compared to the same quarter last year.
Several other research firms have also weighed in on ZUMZ. ValuEngine upgraded Zumiez from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub lowered Zumiez from a “strong-buy” rating to a “buy” rating in a report on Friday, September 14th. B. Riley decreased their price target on Zumiez to $32.00 and set a “buy” rating on the stock in a report on Monday, December 3rd. Pivotal Research set a $30.00 price target on Zumiez and gave the company a “buy” rating in a report on Thursday, November 8th. Finally, Jefferies Financial Group initiated coverage on Zumiez in a report on Thursday, October 25th. They set a “buy” rating and a $28.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.43.
NASDAQ:ZUMZ opened at $22.18 on Friday. Zumiez has a fifty-two week low of $17.57 and a fifty-two week high of $32.70. The firm has a market cap of $543.04 million, a P/E ratio of 20.16, a P/E/G ratio of 1.02 and a beta of 1.11.
A number of hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in shares of Zumiez by 246.0% during the third quarter. Pacer Advisors Inc. now owns 4,637 shares of the apparel and footwear maker’s stock valued at $122,000 after buying an additional 3,297 shares during the period. American Century Companies Inc. purchased a new position in shares of Zumiez during the second quarter valued at $203,000. GSA Capital Partners LLP purchased a new position in shares of Zumiez during the third quarter valued at $213,000. Rafferty Asset Management LLC purchased a new position in shares of Zumiez during the third quarter valued at $257,000. Finally, Hartford Investment Management Co. purchased a new position in shares of Zumiez during the third quarter valued at $298,000. Institutional investors and hedge funds own 82.71% of the company’s stock.
Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of September 1, 2018, the company operated 703 stores, including 610 stores in the United States, 50 stores in Canada, 36 stores in Europe, and 7 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.
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