Zumiez (NASDAQ:ZUMZ – Get Rating) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.03-0.18 for the period, compared to the consensus earnings per share estimate of $1.13. The company issued revenue guidance of $220-228 million, compared to the consensus revenue estimate of $277.18 million. Zumiez also updated its Q3 2022 guidance to $0.03-$0.18 EPS.
Zumiez Trading Up 3.8 %
NASDAQ ZUMZ traded up $1.02 on Friday, hitting $27.56. 2,904,080 shares of the company traded hands, compared to its average volume of 301,184. The company has a market capitalization of $536.32 million, a price-to-earnings ratio of 8.92 and a beta of 1.51. The business's 50 day moving average price is $27.08 and its 200-day moving average price is $32.92. Zumiez has a 52-week low of $23.07 and a 52-week high of $55.10.
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Zumiez (NASDAQ:ZUMZ – Get Rating) last released its earnings results on Thursday, September 8th. The apparel and footwear maker reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.31). The company had revenue of $219.99 million for the quarter, compared to analysts' expectations of $231.50 million. Zumiez had a net margin of 6.65% and a return on equity of 15.59%. Zumiez's revenue for the quarter was down 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. As a group, sell-side analysts predict that Zumiez will post 3.44 earnings per share for the current year.
Analyst Upgrades and Downgrades
ZUMZ has been the topic of several research reports. William Blair cut Zumiez from an outperform rating to a market perform rating in a report on Friday. StockNews.com cut Zumiez from a buy rating to a hold rating in a research note on Monday, June 6th. B. Riley cut Zumiez from a buy rating to a neutral rating and reduced their price objective for the stock from $42.00 to $25.00 in a research note on Friday. Finally, TheStreet lowered Zumiez from a b- rating to a c rating in a research report on Friday, June 3rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Zumiez has a consensus rating of Hold and an average price target of $38.50.
Hedge Funds Weigh In On Zumiez
A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Zumiez by 134.9% in the 2nd 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 during the period. Northern Trust Corp boosted its holdings in Zumiez by 7.0% in the second quarter. Northern Trust Corp now owns 285,120 shares of the apparel and footwear maker's stock valued at $7,413,000 after purchasing an additional 18,639 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Zumiez by 24.8% in 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 last quarter. Invesco Ltd. boosted its holdings in Zumiez by 15.5% in the first quarter. Invesco Ltd. now owns 149,730 shares of the apparel and footwear maker's stock valued at $5,722,000 after purchasing an additional 20,065 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Zumiez by 49.1% in 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 last quarter. 87.11% of the stock is owned by institutional investors and hedge funds.
Zumiez Company Profile
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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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