Updated Guidance Gives Barnes & Noble, Inc. Stock a Big Boost

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Barnes & Noble, Inc. (NYSE:BKS) stock got a major boost today from an update to its guidance for fiscal 2019.

Updated Guidance Gives Barnes & Noble, Inc. Stock a Big Boost

According to Barnes & Noble, Inc., it is now expecting its consolidated EBITDA for fiscal 2019 to range from $175 million to $200 million. This is good news for the stock as Wall Street is only expecting consolidated EBITDA of $145 million for fiscal 2019.

Barnes & Noble, Inc. says that it is expecting its consolidated EBITDA for fiscal 2019 to grow for a couple of reasons. The first is that it is expecting sales trends to improve during the period and give it a boost. It also notes that it is expecting to reduce its expenses for the fiscal year.

The company’s recent update to its outlook for fiscal 2019 also notes its operating income expectations for the year. It is expecting operating income for the period to range from $67 million to $92 million.

Barnes & Noble, Inc. also points out that it is planning to release more details about its outlook for the fiscal full year of 2019 in its earnings report for fiscal 2018. The book retailer says that it is will be releasing this earnings report on or around June 21, 2018.

The update to Barnes & Noble, Inc.’s guidance that gave BKS stock the boost today was tucked inside of its dividend announcement. This announcement includes a dividend of 15 cents per share for holders of BKS stock. The dividend will be payable to investors on April 27, 2018 that are on record as of April 6, 2018.

BKS stock was up 7% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/03/barnes-noble-stock-up-on-guidance-update/.

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