FBR & Co Equities Analysts Decrease Earnings Estimates for Iconix Brand Group, Inc. (ICON)

Iconix Brand Group, Inc. (NASDAQ:ICON) – Research analysts at FBR & Co cut their FY2018 earnings per share estimates for shares of Iconix Brand Group in a research note issued on Monday. FBR & Co analyst E. Beder now expects that the brand management company will post earnings per share of $0.42 for the year, down from their prior estimate of $0.68. FBR & Co currently has a “Neutral” rating and a $4.00 price target on the stock.

Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings results on Wednesday, August 9th. The brand management company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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%. The firm’s revenue was down 32.5% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share.

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Other analysts also recently issued research reports about the stock. Cowen and Company set a $9.00 price target on shares of Iconix Brand Group and gave the company a “hold” rating in a research report on Monday, August 14th. BidaskClub upgraded shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. B. Riley downgraded shares of Iconix Brand Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.50 to $4.00 in a research report on Wednesday. Finally, Roth Capital reissued a “neutral” rating on shares of Iconix Brand Group in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $5.00.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System grew its stake in shares of Iconix Brand Group by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,200 shares of the brand management company’s stock worth $160,000 after purchasing an additional 300 shares during the period. Arizona State Retirement System grew its stake in shares of Iconix Brand Group by 1.4% during the 1st quarter. Arizona State Retirement System now owns 29,260 shares of the brand management company’s stock worth $220,000 after purchasing an additional 400 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Iconix Brand Group by 5.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 17,869 shares of the brand management company’s stock worth $123,000 after purchasing an additional 876 shares during the period. New York State Common Retirement Fund grew its stake in shares of Iconix Brand Group by 2.4% during the 2nd quarter. New York State Common Retirement Fund now owns 39,100 shares of the brand management company’s stock worth $270,000 after purchasing an additional 899 shares during the period. Finally, Texas Permanent School Fund grew its stake in shares of Iconix Brand Group by 2.5% during the 2nd quarter. Texas Permanent School Fund now owns 41,661 shares of the brand management company’s stock worth $288,000 after purchasing an additional 1,024 shares during the period. 83.56% of the stock is currently owned by institutional investors.

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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