Express, Inc. (NYSE:EXPR) – Analysts at B. Riley upped their FY2018 earnings estimates for Express in a research report issued on Wednesday. B. Riley analyst S. Anderson now anticipates that the company will post earnings of $0.46 per share for the year, up from their prior estimate of $0.44. B. Riley currently has a “Neutral” rating and a $9.00 target price on the stock. B. Riley also issued estimates for Express’ Q4 2018 earnings at $0.43 EPS, Q1 2019 earnings at $0.00 EPS, Q2 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.47 EPS and FY2019 earnings at $0.60 EPS.
Express (NYSE:EXPR) last issued its quarterly earnings data on Thursday, November 30th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $498.70 million during the quarter, compared to the consensus estimate of $487.38 million. Express had a net margin of 1.26% and a return on equity of 3.97%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share.
Shares of Express (NYSE:EXPR) remained flat at $$7.49 during trading on Thursday. The stock had a trading volume of 3,728,300 shares, compared to its average volume of 6,155,200. The firm has a market cap of $590.23, a price-to-earnings ratio of 46.81 and a beta of 1.55. Express has a 52-week low of $5.28 and a 52-week high of $11.69.
Hedge funds have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new stake in Express during the 2nd quarter valued at about $114,000. Public Employees Retirement System of Ohio grew its stake in Express by 29.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,739 shares of the company’s stock valued at $140,000 after acquiring an additional 4,722 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in Express during the 2nd quarter valued at about $148,000. Virtu KCG Holdings LLC purchased a new stake in Express during the 2nd quarter valued at about $177,000. Finally, Municipal Employees Retirement System of Michigan grew its stake in Express by 59.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 29,420 shares of the company’s stock valued at $199,000 after acquiring an additional 10,930 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.
Express announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 30th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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Express, Inc is a specialty apparel and accessories retailer offering both women’s and men’s merchandise. The Company targets women and men between 20 and 30 years old. It offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeanswear and going-out occasions.
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