Finish Line (FINL) Shares Up 12.9% After Better-Than-Expected Earnings

Finish Line Inc (NASDAQ:FINL)’s share price shot up 12.9% on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $13.41 and last traded at $13.20. 7,091,000 shares traded hands during mid-day trading, an increase of 291% from the average session volume of 1,815,208 shares. The stock had previously closed at $11.69.

The specialty retailer reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.10. Finish Line had a negative net margin of 0.62% and a positive return on equity of 5.43%. The business had revenue of $378.50 million during the quarter, compared to the consensus estimate of $361.46 million. During the same quarter last year, the firm posted ($0.24) EPS. Finish Line’s revenue was up 1.8% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 24th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Wednesday, November 22nd. Finish Line’s payout ratio is currently -157.14%.

Several research firms recently issued reports on FINL. B. Riley reissued a “neutral” rating on shares of Finish Line in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Finish Line from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Canaccord Genuity set a $9.00 price objective on shares of Finish Line and gave the stock a “hold” rating in a report on Wednesday. UBS Group downgraded shares of Finish Line from a “positive” rating to a “neutral” rating in a report on Monday, October 2nd. Finally, BidaskClub raised shares of Finish Line from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the stock. Finish Line currently has a consensus rating of “Hold” and an average price target of $10.75.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ING Groep NV bought a new stake in shares of Finish Line during the 3rd quarter worth $23,459,000. Thompson Siegel & Walmsley LLC raised its stake in shares of Finish Line by 8.2% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,917,439 shares of the specialty retailer’s stock worth $27,170,000 after purchasing an additional 146,110 shares during the period. Numeric Investors LLC raised its stake in shares of Finish Line by 34.6% during the 2nd quarter. Numeric Investors LLC now owns 1,845,310 shares of the specialty retailer’s stock worth $26,148,000 after purchasing an additional 474,200 shares during the period. State Street Corp raised its stake in shares of Finish Line by 6.5% during the 2nd quarter. State Street Corp now owns 1,470,739 shares of the specialty retailer’s stock worth $20,840,000 after purchasing an additional 90,370 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Finish Line by 29.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 632,191 shares of the specialty retailer’s stock worth $7,606,000 after purchasing an additional 144,124 shares during the period. Institutional investors own 99.96% of the company’s stock.

The company has a market capitalization of $535.39, a P/E ratio of -48.36, a P/E/G ratio of 1.89 and a beta of 1.39.

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About Finish Line

The Finish Line, Inc is a specialty retailer. The Company is a retailer of athletic shoes, apparel and accessories for men, women and kids, throughout the United States and Puerto Rico. The Company operates through the Finish Line brand. Finish Line is a retailer of athletic shoes, apparel and accessories.

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