Barnes & Noble, Inc. (NYSE:BKS) hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $4.35 and last traded at $4.37, with a volume of 1997740 shares trading hands. The stock had previously closed at $4.50.
The specialty retailer reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($1.84). The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Barnes & Noble had a return on equity of 2.86% and a net margin of 0.42%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS.
A number of research analysts have recently issued reports on BKS shares. Craig Hallum downgraded shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Barnes & Noble from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th.
Large investors have recently added to or reduced their stakes in the company. Gendell Jeffrey L increased its stake in shares of Barnes & Noble by 42.6% in the 4th quarter. Gendell Jeffrey L now owns 1,613,944 shares of the specialty retailer’s stock valued at $10,814,000 after acquiring an additional 482,426 shares in the last quarter. Sterneck Capital Management LLC increased its stake in shares of Barnes & Noble by 23.8% in the 4th quarter. Sterneck Capital Management LLC now owns 73,545 shares of the specialty retailer’s stock valued at $493,000 after acquiring an additional 14,160 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Barnes & Noble by 64.0% in the 3rd quarter. Wells Fargo & Company MN now owns 93,832 shares of the specialty retailer’s stock valued at $714,000 after acquiring an additional 36,626 shares in the last quarter. Royce & Associates LP increased its stake in shares of Barnes & Noble by 6.0% in the 3rd quarter. Royce & Associates LP now owns 954,503 shares of the specialty retailer’s stock valued at $7,254,000 after acquiring an additional 53,879 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Barnes & Noble in the 3rd quarter valued at $340,000. Institutional investors own 65.30% of the company’s stock.
The firm has a market cap of $323.90, a P/E ratio of 21.52 and a beta of 2.36. The company has a current ratio of 1.11, a quick ratio of 0.18 and a debt-to-equity ratio of 0.47.
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About Barnes & Noble
Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.
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