Zumiez (NASDAQ:ZUMZ) Issues Quarterly Earnings Results, Misses Expectations By $0.31 EPS

Zumiez (NASDAQ:ZUMZGet Rating) announced its earnings results on Thursday. The apparel and footwear maker reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.31), Briefing.com reports. Zumiez had a net margin of 6.65% and a return on equity of 15.59%. The business had revenue of $219.99 million for the quarter, compared to the consensus estimate of $231.50 million. During the same quarter in the previous year, the company earned $1.02 EPS. Zumiez’s revenue for the quarter was down 18.1% compared to the same quarter last year. Zumiez updated its Q3 2022 guidance to $0.03-$0.18 EPS and its Q3 guidance to $0.03-0.18 EPS.

Zumiez Trading Up 3.8 %

Shares of ZUMZ opened at $27.56 on Friday. The stock has a market cap of $536.32 million, a PE ratio of 8.92 and a beta of 1.51. The stock has a 50 day simple moving average of $27.08 and a 200-day simple moving average of $32.98. Zumiez has a 1 year low of $23.07 and a 1 year high of $55.10.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ZUMZ shares. TheStreet downgraded Zumiez from a “b-” rating to a “c” rating in a research report on Friday, June 3rd. William Blair downgraded Zumiez from an “outperform” rating to a “market perform” rating in a research report on Friday. B. Riley cut Zumiez from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $42.00 to $25.00 in a report on Friday. Finally, StockNews.com cut Zumiez from a “buy” rating to a “hold” rating in a report on Monday, June 6th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, Zumiez has an average rating of “Hold” and a consensus price target of $41.33.

Hedge Funds Weigh In On Zumiez

Several institutional investors have recently modified their holdings of ZUMZ. Renaissance Technologies LLC grew its holdings in shares of Zumiez by 134.9% in the second quarter. Renaissance Technologies LLC now owns 302,008 shares of the apparel and footwear maker’s stock valued at $7,852,000 after acquiring an additional 173,415 shares in the last quarter. Aviva PLC bought a new position in shares of Zumiez in the first quarter valued at approximately $2,038,000. Millennium Management LLC grew its holdings in Zumiez by 49.1% during the second quarter. Millennium Management LLC now owns 135,592 shares of the apparel and footwear maker’s stock valued at $3,525,000 after purchasing an additional 44,652 shares during the period. Goldman Sachs Group Inc. grew its holdings in Zumiez by 24.8% during the second quarter. Goldman Sachs Group Inc. now owns 160,173 shares of the apparel and footwear maker’s stock valued at $4,165,000 after purchasing an additional 31,860 shares during the period. Finally, Vident Investment Advisory LLC grew its holdings in Zumiez by 87.1% during the first quarter. Vident Investment Advisory LLC now owns 53,339 shares of the apparel and footwear maker’s stock valued at $2,038,000 after purchasing an additional 24,830 shares during the period. 87.11% of the stock is owned by institutional investors.

About Zumiez

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Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of February 26, 2022, the company operated 738 stores, including 602 stores in the United States, 52 stores in Canada, 67 stores in Europe, and 17 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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Earnings History for Zumiez (NASDAQ:ZUMZ)

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