Zacks Investment Research Lowers Barnes & Noble Education, Inc (NYSE:BNED) to Hold

Zacks Investment Research lowered shares of Barnes & Noble Education, Inc (NYSE:BNED) from a buy rating to a hold rating in a research report report published on Wednesday, August 9th.

According to Zacks, “Barnes & Noble Education, Inc. is engaged in creating and operating campus bookstores for academic institutions under multi-year management service agreements. The Company’s products and services include Textbook and Course Material Sales, Textbook and Course Material Rentals, General Merchandise, Trade, Digital Education Platform, e-commerce Platform, FacultyEnlight, Campus Connect Technologies platform and Flexible Course Fee Solution. It operates primarily in the United States. Barnes & Noble Education, Inc. is based in Basking Ridge, United States. “

A number of other equities analysts have also recently commented on BNED. BidaskClub cut Barnes & Noble Education from a buy rating to a hold rating in a report on Tuesday, July 11th. ValuEngine cut Barnes & Noble Education from a hold rating to a sell rating in a report on Thursday, July 13th. Finally, BWS Financial cut Barnes & Noble Education from a stong buy rating to a buy rating in a report on Thursday, July 13th.

Barnes & Noble Education (NYSE:BNED) traded up 1.91% on Wednesday, hitting $6.92. 246,733 shares of the company were exchanged. The stock has a market capitalization of $321.89 million, a P/E ratio of 62.91 and a beta of 0.88. Barnes & Noble Education has a 52-week low of $6.46 and a 52-week high of $13.15. The stock’s 50-day moving average price is $7.93 and its 200-day moving average price is $9.42.

Barnes & Noble Education (NYSE:BNED) last released its quarterly earnings results on Wednesday, July 12th. The specialty retailer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.10. The business had revenue of $342.80 million for the quarter, compared to analysts’ expectations of $310.58 million. Barnes & Noble Education had a return on equity of 1.15% and a net margin of 0.29%. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. On average, equities research analysts anticipate that Barnes & Noble Education will post $0.30 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of BNED. Aperio Group LLC raised its stake in shares of Barnes & Noble Education by 1.3% in the second quarter. Aperio Group LLC now owns 12,020 shares of the specialty retailer’s stock valued at $128,000 after buying an additional 154 shares during the period. Wells Fargo & Company MN raised its stake in shares of Barnes & Noble Education by 0.5% in the first quarter. Wells Fargo & Company MN now owns 36,915 shares of the specialty retailer’s stock valued at $354,000 after buying an additional 190 shares during the period. Texas Permanent School Fund raised its stake in shares of Barnes & Noble Education by 0.8% in the second quarter. Texas Permanent School Fund now owns 28,147 shares of the specialty retailer’s stock valued at $299,000 after buying an additional 235 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Barnes & Noble Education by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the specialty retailer’s stock valued at $151,000 after buying an additional 300 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Barnes & Noble Education by 2.0% in the first quarter. Arizona State Retirement System now owns 20,125 shares of the specialty retailer’s stock valued at $193,000 after buying an additional 400 shares during the period. 68.95% of the stock is currently owned by institutional investors and hedge funds.

Barnes & Noble Education Company Profile

Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.

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