Zumiez (NASDAQ:ZUMZ – Get Rating) issued an update on its third quarter 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $0.03-$0.18 for the period. The company issued revenue guidance of $220.00 million-$228.00 million, compared to the consensus revenue estimate of $278.62 million.
Zumiez Trading Down 2.8 %
Shares of ZUMZ traded down $0.63 during mid-day trading on Thursday, hitting $21.66. The company's stock had a trading volume of 326,069 shares, compared to its average volume of 369,633. The firm has a 50-day simple moving average of $26.81 and a 200 day simple moving average of $31.85. The firm has a market capitalization of $421.72 million, a P/E ratio of 7.08 and a beta of 1.51. Zumiez has a 1-year low of $21.65 and a 1-year high of $55.10.
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Zumiez (NASDAQ:ZUMZ – Get Rating) last posted its quarterly earnings results on Thursday, September 8th. The apparel and footwear maker reported $0.16 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.31). The business had revenue of $219.99 million during the quarter, compared to analyst estimates of $231.50 million. Zumiez had a net margin of 6.65% and a return on equity of 16.31%. The firm's quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 earnings per share. As a group, sell-side analysts predict that Zumiez will post 1.38 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ZUMZ has been the subject of several recent analyst reports. StockNews.com cut Zumiez from a buy rating to a hold rating in a report on Monday, June 6th. TheStreet downgraded Zumiez from a b- rating to a c rating in a research note on Friday, June 3rd. B. Riley downgraded Zumiez from a buy rating to a neutral rating and dropped their price objective for the company from $42.00 to $25.00 in a research note on Friday, September 9th. Finally, William Blair downgraded Zumiez from an outperform rating to a market perform rating in a research note on Friday, September 9th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Zumiez presently has a consensus rating of Hold and an average target price of $38.50.
Hedge Funds Weigh In On Zumiez
Several hedge funds have recently bought and sold shares of ZUMZ. Captrust Financial Advisors increased its position in Zumiez by 946.8% during the first quarter. Captrust Financial Advisors now owns 806 shares of the apparel and footwear maker's stock worth $31,000 after buying an additional 729 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Zumiez by 4.1% during the second quarter. Envestnet Asset Management Inc. now owns 13,475 shares of the apparel and footwear maker's stock worth $350,000 after buying an additional 528 shares in the last quarter. Raymond James & Associates increased its position in Zumiez by 17.5% during the first quarter. Raymond James & Associates now owns 9,403 shares of the apparel and footwear maker's stock worth $359,000 after buying an additional 1,400 shares in the last quarter. MetLife Investment Management LLC increased its position in Zumiez by 54.6% during the first quarter. MetLife Investment Management LLC now owns 11,362 shares of the apparel and footwear maker's stock worth $434,000 after buying an additional 4,012 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new position in Zumiez during the second quarter worth $462,000. 87.11% of the stock is owned by hedge funds and other 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.
Further Reading
- Get a free copy of the StockNews.com research report on Zumiez (ZUMZ)
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