DSW (DSW) Shares Gap Down Following Weak Earnings

DSW Inc. (NYSE:DSW) shares gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $21.07, but opened at $22.09. DSW shares last traded at $20.87, with a volume of 205831 shares.

The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.11). The business had revenue of $843.40 million during the quarter, compared to the consensus estimate of $842.73 million. DSW had a return on equity of 18.11% and a net margin of 1.21%. The business’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS.

A number of equities analysts have recently weighed in on DSW shares. ValuEngine raised DSW from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research lowered DSW from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 11th. Deutsche Bank set a $30.00 price objective on DSW and gave the stock a “hold” rating in a research note on Wednesday, December 12th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $30.00 price objective (down previously from $34.00) on shares of DSW in a research note on Wednesday, December 12th. Finally, Canaccord Genuity increased their price target on DSW from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Wednesday, December 12th. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.73.

In other DSW news, CEO Roger Rawlins sold 21,463 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $30.26, for a total transaction of $649,470.38. Following the sale, the chief executive officer now directly owns 66,918 shares in the company, valued at $2,024,938.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 16.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in DSW by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,402,653 shares of the company’s stock worth $36,218,000 after purchasing an additional 6,679 shares during the period. Russell Investments Group Ltd. increased its holdings in DSW by 19.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 155,146 shares of the company’s stock worth $5,256,000 after purchasing an additional 25,533 shares during the period. Virginia Retirement Systems ET AL bought a new stake in DSW during the 3rd quarter valued at $352,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in DSW by 75.9% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,425 shares of the company’s stock valued at $1,302,000 after acquiring an additional 16,580 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in DSW by 35.5% during the 3rd quarter. SG Americas Securities LLC now owns 7,067 shares of the company’s stock valued at $239,000 after acquiring an additional 1,852 shares in the last quarter. Hedge funds and other institutional investors own 82.64% of the company’s stock.

The stock has a market cap of $2.04 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.45 and a beta of 1.13.

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About DSW (NYSE:DSW)

DSW Inc, together with its subsidiaries, operates as a branded footwear and accessories retailer in the United States. The company offers dresses, casual and athletic footwear, and accessories under various brands for women, men, and kids. It also provides handbags, hosiery, jewelry, and other accessories.

Read More: How Do You Calculate Return on Equity (ROE)?

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