Express (EXPR) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Express (NYSE:EXPR) announced its quarterly earnings results on Wednesday. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03, MarketWatch Earnings reports. Express had a net margin of 1.84% and a return on equity of 5.94%. The company had revenue of $628.40 million for the quarter, compared to analyst estimates of $629.63 million. During the same quarter in the prior year, the business posted $0.34 EPS. Express’s quarterly revenue was down 10.2% on a year-over-year basis. Express updated its Q1 2019 guidance to $-0.34–0.27 EPS and its Q1 guidance to ($0.34)-($0.27) EPS.

NYSE:EXPR opened at $4.49 on Friday. Express has a 1 year low of $4.28 and a 1 year high of $11.69. The firm has a market capitalization of $345.38 million, a P/E ratio of 12.47 and a beta of 1.12.

In related news, major shareholder Contrarius Investment Manageme sold 240,425 shares of the firm’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $5.36, for a total value of $1,288,678.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Express by 3.6% in the 3rd quarter. BlackRock Inc. now owns 10,648,459 shares of the company’s stock valued at $117,772,000 after purchasing an additional 371,547 shares during the period. Vanguard Group Inc. boosted its holdings in Express by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,256,644 shares of the company’s stock valued at $80,259,000 after purchasing an additional 98,995 shares during the period. Vanguard Group Inc boosted its holdings in Express by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 7,256,644 shares of the company’s stock valued at $80,259,000 after purchasing an additional 98,995 shares during the period. Contrarius Investment Management Ltd boosted its holdings in Express by 2.6% in the 4th quarter. Contrarius Investment Management Ltd now owns 6,111,868 shares of the company’s stock valued at $31,232,000 after purchasing an additional 152,761 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Express by 10.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,172,692 shares of the company’s stock valued at $38,179,000 after purchasing an additional 403,825 shares during the period.

Several brokerages have recently commented on EXPR. ValuEngine upgraded shares of Express from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research lowered shares of Express from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Wedbush lowered their target price on shares of Express from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Express has a consensus rating of “Hold” and a consensus price target of $6.75.

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About Express

Express, Inc operates as a specialty apparel and accessories retailer. It offers apparel and accessories for women and men between 20 and 30 years across various aspects of lifestyles, including work, casual, jeanswear, and going-out occasions. The company sells its products through its e-commerce Website, express.com; mobile app; and franchisees Express locations in Latin America.

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Earnings History for Express (NYSE:EXPR)

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