Dillard's, Inc. (NYSE:DDS) Shares Gap Down on Disappointing Earnings

Dillard's, Inc. (NYSE:DDS) shares gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $61.74, but opened at $61.70. Dillard's shares last traded at $58.50, with a volume of 1,521,184 shares traded.

The company reported ($0.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.77. Dillard's had a negative net margin of 1.17% and a negative return on equity of 4.17%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.28 annualized dividend and a yield of 0.48%. Dillard's’s payout ratio is presently 7.12%.

Several analysts recently weighed in on the company. BidaskClub lowered Dillard's from a “strong-buy” rating to a “buy” rating in a report on Saturday. J P Morgan Chase & Co restated an “underweight” rating and set a $36.00 price target (down previously from $49.00) on shares of Dillard's in a report on Thursday. TheStreet upgraded Dillard's from a “c” rating to a “b-” rating in a report on Tuesday, August 8th. Deutsche Bank AG increased their price target on Dillard's from $39.00 to $42.00 and gave the company a “sell” rating in a report on Tuesday, August 8th. Finally, ValuEngine lowered Dillard's from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $56.00.

In other Dillard's news, major shareholder David Einhorn sold 35,125 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $51.50, for a total value of $1,808,937.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 23.27% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund acquired a new position in shares of Dillard's during the first quarter valued at approximately $474,000. Clear Harbor Asset Management LLC increased its position in shares of Dillard's by 280.1% in the first quarter. Clear Harbor Asset Management LLC now owns 27,250 shares of the company’s stock valued at $1,424,000 after buying an additional 20,080 shares during the period. Glen Harbor Capital Management LLC increased its position in shares of Dillard's by 49.6% in the first quarter. Glen Harbor Capital Management LLC now owns 104,652 shares of the company’s stock valued at $5,467,000 after buying an additional 34,714 shares during the period. Howard Hughes Medical Institute increased its position in shares of Dillard's by 3.9% in the first quarter. Howard Hughes Medical Institute now owns 12,826 shares of the company’s stock valued at $670,000 after buying an additional 477 shares during the period. Finally, Profund Advisors LLC acquired a new position in shares of Dillard's during the first quarter valued at approximately $236,000. 93.36% of the stock is currently owned by institutional investors.

The firm has a market cap of $1.69 billion, a P/E ratio of 14.37 and a beta of 1.12. The company’s 50-day moving average is $64.28 and its 200 day moving average is $55.96.

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About Dillard's

Dillard’s, Inc is a retailer of fashion apparel, cosmetics and home furnishing. As of January 28, 2017, the Company operated 293 Dillard’s stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods.

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