Cherokee Inc (NASDAQ:CHKE) shares traded down 23.7% during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $1.85 and last traded at $2.25. 921,976 shares traded hands during trading, an increase of 763% from the average session volume of 106,814 shares. The stock had previously closed at $2.95.
The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.12). Cherokee had a positive return on equity of 1.52% and a negative net margin of 42.78%. The business had revenue of $11.04 million during the quarter, compared to the consensus estimate of $9.90 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. The company’s revenue for the quarter was up 69.9% on a year-over-year basis.
Several equities research analysts recently weighed in on the stock. FBR & Co restated a “buy” rating and issued a $8.00 price target on shares of Cherokee in a research report on Wednesday, September 6th. Roth Capital reduced their price target on shares of Cherokee from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 21st. Zacks Investment Research cut shares of Cherokee from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. ValuEngine upgraded shares of Cherokee from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, B. Riley restated a “buy” rating on shares of Cherokee in a research report on Wednesday, November 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $7.19.
The firm has a market cap of $41.15, a P/E ratio of 26.82, a P/E/G ratio of 1.97 and a beta of 1.18.
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Cherokee Company Profile
Cherokee Inc is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors.
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