Analysts Expect Iconix Brand Group, Inc. (ICON) Will Post Quarterly Sales of $54.11 Million

Wall Street brokerages expect Iconix Brand Group, Inc. (NASDAQ:ICON) to announce sales of $54.11 million for the current quarter, according to Zacks. Two analysts have made estimates for Iconix Brand Group’s earnings. The highest sales estimate is $55.02 million and the lowest is $53.20 million. Iconix Brand Group reported sales of $90.94 million during the same quarter last year, which would suggest a negative year over year growth rate of 40.5%. The business is scheduled to announce its next quarterly earnings results on Tuesday, November 14th.

On average, analysts expect that Iconix Brand Group will report full year sales of $54.11 million for the current fiscal year, with estimates ranging from $227.67 million to $234.33 million. For the next financial year, analysts expect that the firm will post sales of $219.14 million per share, with estimates ranging from $212.16 million to $226.13 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Iconix Brand Group.

Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings results on Wednesday, August 9th. The brand management company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The company had revenue of $64.60 million for the quarter, compared to analyst estimates of $61.00 million. Iconix Brand Group had a negative net margin of 82.22% and a positive return on equity of 10.38%. Iconix Brand Group’s revenue was down 32.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share.

Several equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. FBR & Co restated a “buy” rating and set a $8.50 price objective on shares of Iconix Brand Group in a report on Thursday, September 14th. Zacks Investment Research upgraded shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Sidoti assumed coverage on shares of Iconix Brand Group in a report on Tuesday, September 19th. They set a “neutral” rating and a $6.00 price objective on the stock. Finally, Cowen and Company set a $9.00 price objective on shares of Iconix Brand Group and gave the company a “hold” rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.13.

Iconix Brand Group (NASDAQ:ICON) opened at 5.52 on Wednesday. The firm’s market cap is $315.14 million. The stock’s 50 day moving average is $5.59 and its 200-day moving average is $6.37. Iconix Brand Group has a one year low of $4.79 and a one year high of $10.80.

Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System increased its holdings in Iconix Brand Group by 3.9% in the 1st quarter. New York State Teachers Retirement System now owns 122,036 shares of the brand management company’s stock worth $918,000 after buying an additional 4,600 shares during the period. Louisiana State Employees Retirement System increased its holdings in Iconix Brand Group by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,200 shares of the brand management company’s stock worth $160,000 after buying an additional 300 shares during the period. Principal Financial Group Inc. increased its holdings in Iconix Brand Group by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 426,624 shares of the brand management company’s stock worth $3,208,000 after buying an additional 14,997 shares during the period. Texas Permanent School Fund increased its holdings in Iconix Brand Group by 2.5% in the 2nd quarter. Texas Permanent School Fund now owns 41,661 shares of the brand management company’s stock worth $288,000 after buying an additional 1,024 shares during the period. Finally, Systematic Financial Management LP increased its holdings in Iconix Brand Group by 25.7% in the 2nd quarter. Systematic Financial Management LP now owns 273,825 shares of the brand management company’s stock worth $1,892,000 after buying an additional 55,985 shares during the period. Institutional investors own 82.92% of the company’s stock.

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About Iconix Brand Group

Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. The Company’s brand portfolio includes brands, such as Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko Unltd/Mark Ecko Cut & Sew, Zoo York, Umbro, Lee Cooper and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.

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