Buckle (NYSE:BKE) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Buckle (NYSE:BKE) posted its quarterly earnings results on Friday. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.09, MarketWatch Earnings reports. The firm had revenue of $303.50 million for the quarter, compared to analysts’ expectations of $303.50 million. Buckle had a net margin of 18.16% and a return on equity of 57.52%. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share.

Buckle Price Performance

BKE stock opened at $37.70 on Friday. The firm has a fifty day moving average price of $33.78 and a two-hundred day moving average price of $34.30. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 7.89 and a beta of 1.07. Buckle has a 1-year low of $30.18 and a 1-year high of $50.35.

Buckle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.40 annualized dividend and a yield of 3.71%. Buckle’s payout ratio is 29.29%.

Insider Transactions at Buckle

In other news, SVP Brett P. Milkie sold 15,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $37.89, for a total transaction of $568,350.00. Following the completion of the transaction, the senior vice president now owns 80,770 shares in the company, valued at $3,060,375.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 40.10% of the company’s stock.

Institutional Trading of Buckle

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its holdings in Buckle by 2,840.6% during the first quarter. Covestor Ltd now owns 941 shares of the company’s stock worth $31,000 after purchasing an additional 909 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Buckle by 58.3% during the 1st quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock valued at $51,000 after purchasing an additional 573 shares during the period. Quarry LP increased its position in shares of Buckle by 733.1% during the 1st quarter. Quarry LP now owns 1,483 shares of the company’s stock valued at $53,000 after purchasing an additional 1,305 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Buckle during the 2nd quarter valued at $60,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Buckle by 42.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,244 shares of the company’s stock worth $78,000 after acquiring an additional 673 shares in the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BKE. UBS Group upped their price target on shares of Buckle from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 21st. StockNews.com cut shares of Buckle from a “buy” rating to a “hold” rating in a report on Friday, November 10th.

About Buckle

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Reclaim, BKE Vintage, Nova Industries, J.B.