Tandy Leather Factory (NASDAQ:TLF) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Tandy Leather Factory (NASDAQ:TLF) issued its earnings results on Tuesday. The textile maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06), FiscalAI reports. The firm had revenue of $18.04 million for the quarter, compared to analyst estimates of $23.89 million. Tandy Leather Factory had a negative return on equity of 4.31% and a negative net margin of 2.94%.

Tandy Leather Factory Price Performance

NASDAQ:TLF remained flat at $2.42 during mid-day trading on Tuesday. 9,102 shares of the company were exchanged, compared to its average volume of 39,802. The stock has a market cap of $19.70 million, a price-to-earnings ratio of -10.08 and a beta of 0.47. Tandy Leather Factory has a 1 year low of $2.20 and a 1 year high of $3.52. The firm’s fifty day moving average price is $2.37 and its 200 day moving average price is $2.47.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Tandy Leather Factory from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Tandy Leather Factory

A hedge fund recently bought a new stake in Tandy Leather Factory stock. NewEdge Advisors LLC acquired a new position in Tandy Leather Factory, Inc. (NASDAQ:TLF) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,573 shares of the textile maker’s stock, valued at approximately $39,000. NewEdge Advisors LLC owned approximately 0.15% of Tandy Leather Factory as of its most recent filing with the Securities and Exchange Commission (SEC). 56.41% of the stock is currently owned by institutional investors.

Tandy Leather Factory Company Profile

Tandy Leather Factory, Inc engages in the distribution of leather and related products. It offers leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. It operates through North America and International geographical segments. The North America geographical segment consists of 115 stores, which offer a broad selection of products combined with leathercraft expertise in a one-stop shop. The International geographical segment comprises of similar to North America segment but generally located in light industrial areas.