Express (NYSE:EXPR) Releases FY 2023 Earnings Guidance

Express (NYSE:EXPR – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of -$1.70–$1.50 for the period, compared to the consensus estimate of -$0.99. The company issued revenue guidance of $1.90 billion-$2.00 billion, compared to the consensus revenue estimate of $1.96 billion. Express also updated its Q2 2023 guidance to -$0.60–$0.50 EPS.

Express Stock Down 3.0 %

Shares of EXPR stock opened at $0.65 on Friday. The stock’s 50 day simple moving average is $0.80 and its 200 day simple moving average is $1.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.31 and a current ratio of 0.94. Express has a twelve month low of $0.65 and a twelve month high of $3.17. The company has a market capitalization of $47.96 million, a price-to-earnings ratio of 0.19 and a beta of 1.72.

Express (NYSE:EXPR – Get Rating) last issued its quarterly earnings results on Friday, March 24th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.09. The company had revenue of $514.33 million for the quarter, compared to the consensus estimate of $536.68 million. Express had a negative return on equity of 112.84% and a net margin of 12.93%. During the same period in the previous year, the business posted $0.11 EPS. As a group, research analysts predict that Express will post -1.6 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered Express from a hold rating to a sell rating in a research note on Friday.

Hedge Funds Weigh In On Express

Several large investors have recently made changes to their positions in EXPR. Morgan Stanley lifted its stake in shares of Express by 104.2% during the fourth quarter. Morgan Stanley now owns 1,462,590 shares of the company’s stock valued at $1,492,000 after acquiring an additional 746,296 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Express by 36.7% during the first quarter. Renaissance Technologies LLC now owns 2,648,535 shares of the company’s stock valued at $9,429,000 after acquiring an additional 711,400 shares during the period. State Street Corp lifted its stake in shares of Express by 183.0% during the second quarter. State Street Corp now owns 691,032 shares of the company’s stock valued at $1,354,000 after acquiring an additional 446,872 shares during the period. Northern Trust Corp increased its holdings in Express by 280.9% in the second quarter. Northern Trust Corp now owns 565,061 shares of the company’s stock valued at $1,108,000 after purchasing an additional 416,724 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Express by 12.9% in the third quarter. Vanguard Group Inc. now owns 3,542,372 shares of the company’s stock valued at $3,862,000 after purchasing an additional 403,535 shares during the last quarter. Institutional investors and hedge funds own 48.19% of the company’s stock.

Express Company Profile

(Get Rating)

Express, Inc is a dual gender apparel and accessories brand. It operates retail and outlet stores in the United States and Puerto Rico, located primarily in high-traffic shopping malls, lifestyle centers, outlet centers, and street locations. The company reports results as a single segment, which includes the operation of its Express brick-and-mortar retail and outlet stores, eCommerce operations, and franchise operations.