Zumiez Inc. (NASDAQ:ZUMZ) stock had a strong day on the company’s updated fiscal third-quarter news.
The popular apparel and footwear retailer announced that it expects to earn between 29 cents per share and 30 cents per share for its current three-month period. This figure exceeds the 21 cents to 26 cents per share previously projected by the company.
The earnings estimate also surpasses the consensus estimate, which is set at 24 cents per share. Zumiez also raised its net sales guidance for the quarter, rising from the range of $209 to $213 million to in the range of $216 to $217 million.
The retailer last released its quarterly earnings report on Thursday, September 8th. For the second quarter, the company earned 3 cents per share compared to the 8 cents per share that Wall Street predicted.
Revenue came in at $178.30 million, ahead of the $177.35 million that analysts called for on average. Zumiez had a return on equity of 7.21% and a net margin of 2.48%.
Quarterly revenue as down 8% compared to the same quarter a year ago. For the full fiscal year, the company will earn 71 cents per share, according to equities research analysts.
Several analysts have shared their rating of the stock, including Stifel Nicolaus which reiterated a “hold” rating with a $17.00 price objective, $1 higher than its previous target. BMO Capital Markets has a “market perform” rating on the stock with a $16.00 price target.
ZUMZ shares popped 17.4% Thursday on the news.
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