Zacks: Analysts Expect Kirkland’s, Inc. (KIRK) Will Announce Quarterly Sales of $138.96 Million

Wall Street analysts forecast that Kirkland’s, Inc. (NASDAQ:KIRK) will announce sales of $138.96 million for the current quarter, Zacks reports. Two analysts have issued estimates for Kirkland’s’ earnings, with the highest sales estimate coming in at $139.62 million and the lowest estimate coming in at $138.30 million. Kirkland’s reported sales of $131.68 million in the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The company is expected to issue its next earnings results on Tuesday, August 28th.

On average, analysts expect that Kirkland’s will report full-year sales of $654.53 million for the current fiscal year, with estimates ranging from $654.20 million to $654.86 million. For the next fiscal year, analysts anticipate that the business will post sales of $667.71 million per share, with estimates ranging from $661.63 million to $673.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Kirkland’s.

Kirkland’s (NASDAQ:KIRK) last released its earnings results on Thursday, May 31st. The specialty retailer reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. The business had revenue of $142.50 million for the quarter, compared to analyst estimates of $140.33 million. Kirkland’s had a return on equity of 5.57% and a net margin of 0.91%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share.

KIRK has been the topic of a number of recent research reports. KeyCorp reissued a “buy” rating on shares of Kirkland’s in a report on Friday, February 23rd. B. Riley set a $12.50 target price on Kirkland’s and gave the company a “buy” rating in a report on Wednesday, February 21st. ValuEngine raised Kirkland’s from a “hold” rating to a “buy” rating in a report on Tuesday, April 3rd. Finally, Zacks Investment Research upgraded Kirkland’s from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Kirkland’s currently has a consensus rating of “Buy” and an average target price of $12.38.

Shares of Kirkland’s traded down $0.12, reaching $12.44, during trading on Friday, MarketBeat.com reports. The company had a trading volume of 111,400 shares, compared to its average volume of 187,769. The firm has a market cap of $199.68 million, a P/E ratio of 32.71 and a beta of 1.08. Kirkland’s has a fifty-two week low of $8.17 and a fifty-two week high of $13.48.

In related news, insider W Michael Madden sold 15,000 shares of Kirkland’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $10.05, for a total value of $150,750.00. Following the sale, the insider now directly owns 127,510 shares in the company, valued at $1,281,475.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of KIRK. Wells Fargo & Company MN boosted its position in Kirkland’s by 68.0% during the third quarter. Wells Fargo & Company MN now owns 17,081 shares of the specialty retailer’s stock worth $195,000 after purchasing an additional 6,911 shares in the last quarter. Victory Capital Management Inc. boosted its position in Kirkland’s by 34.8% during the fourth quarter. Victory Capital Management Inc. now owns 118,509 shares of the specialty retailer’s stock worth $1,418,000 after purchasing an additional 30,568 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Kirkland’s by 46.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 21,730 shares of the specialty retailer’s stock worth $260,000 after purchasing an additional 6,930 shares in the last quarter. California Public Employees Retirement System boosted its position in Kirkland’s by 7.4% during the fourth quarter. California Public Employees Retirement System now owns 155,286 shares of the specialty retailer’s stock worth $1,858,000 after purchasing an additional 10,723 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in Kirkland’s during the fourth quarter worth $322,000. Institutional investors own 93.80% of the company’s stock.

Kirkland’s Company Profile

Kirkland's, Inc operates as a specialty retailer of home décor in the United States. The company's stores provide various merchandise, including holiday décor, framed arts, furniture, ornamental wall décor, fragrance and accessories, mirrors, lamps, decorative accessories, textiles, housewares, gifts, artificial floral products, frames, clocks, and outdoor living items.

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Earnings History and Estimates for Kirkland`s (NASDAQ:KIRK)

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