Zacks: Brokerages Expect The Finish Line, Inc. (FINL) Will Announce Quarterly Sales of $477.16 Million

Wall Street brokerages expect The Finish Line, Inc. (NASDAQ:FINL) to announce $477.16 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for The Finish Line’s earnings. The lowest sales estimate is $469.34 million and the highest is $483.40 million. The Finish Line posted sales of $509.40 million in the same quarter last year, which suggests a negative year over year growth rate of 6.3%. The company is scheduled to report its next quarterly earnings report on Friday, September 22nd.

According to Zacks, analysts expect that The Finish Line will report full-year sales of $477.16 million for the current fiscal year, with estimates ranging from $1.87 billion to $1.93 billion. For the next year, analysts forecast that the firm will report sales of $1.91 billion per share, with estimates ranging from $1.87 billion to $1.95 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for The Finish Line.

The Finish Line (NASDAQ:FINL) last released its quarterly earnings data on Friday, June 23rd. The specialty retailer reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The Finish Line had a negative net margin of 1.05% and a positive return on equity of 8.97%. The business had revenue of $429.80 million during the quarter, compared to the consensus estimate of $433.97 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue was up .0% on a year-over-year basis.

Several analysts recently issued reports on the stock. FBR & Co reaffirmed a “buy” rating and set a $22.00 price objective on shares of The Finish Line in a research note on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $17.00 price objective on shares of The Finish Line in a research note on Friday, June 23rd. Monness Crespi & Hardt raised shares of The Finish Line from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.09 to $17.00 in a research note on Monday, May 22nd. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “hold” rating and set a $14.00 price objective on shares of The Finish Line in a research note on Friday, May 26th. Finally, Piper Jaffray Companies set a $13.00 price objective on shares of The Finish Line and gave the company a “hold” rating in a research note on Saturday, June 24th. Nineteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The Finish Line has a consensus rating of “Hold” and an average target price of $18.11.

In other The Finish Line news, COO Melissa A. Greenwell sold 7,525 shares of the stock in a transaction that occurred on Saturday, July 15th. The shares were sold at an average price of $22.71, for a total value of $170,892.75. Following the sale, the chief operating officer now directly owns 11,862 shares of the company’s stock, valued at approximately $269,386.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Melissa A. Greenwell sold 4,077 shares of the stock in a transaction that occurred on Saturday, July 29th. The shares were sold at an average price of $21.67, for a total transaction of $88,348.59. Following the completion of the sale, the chief operating officer now directly owns 11,862 shares in the company, valued at $257,049.54. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. OxFORD Asset Management LLP purchased a new stake in shares of The Finish Line during the second quarter worth approximately $609,000. Virtu KCG Holdings LLC increased its position in The Finish Line by 74.0% in the second quarter. Virtu KCG Holdings LLC now owns 75,355 shares of the specialty retailer’s stock worth $1,068,000 after buying an additional 32,047 shares during the period. Parametric Portfolio Associates LLC increased its position in The Finish Line by 8.1% in the second quarter. Parametric Portfolio Associates LLC now owns 256,314 shares of the specialty retailer’s stock worth $3,632,000 after buying an additional 19,218 shares during the period. California Public Employees Retirement System increased its position in The Finish Line by 3.6% in the second quarter. California Public Employees Retirement System now owns 217,659 shares of the specialty retailer’s stock worth $3,084,000 after buying an additional 7,600 shares during the period. Finally, Pinebridge Investments L.P. increased its position in The Finish Line by 12.9% in the second quarter. Pinebridge Investments L.P. now owns 61,990 shares of the specialty retailer’s stock worth $878,000 after buying an additional 7,086 shares during the period.

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The Finish Line (NASDAQ FINL) opened at 13.39 on Friday. The company has a 50 day moving average of $13.96 and a 200-day moving average of $15.08. The Finish Line has a one year low of $12.25 and a one year high of $24.52. The company’s market cap is $537.55 million.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 25th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, August 23rd. The Finish Line’s payout ratio is currently -89.80%.

The Finish Line Company Profile

The Finish Line, Inc is a specialty retailer. The Company is a retailer of athletic shoes, apparel and accessories for men, women and kids, throughout the United States and Puerto Rico. The Company operates through the Finish Line brand. Finish Line is a retailer of athletic shoes, apparel and accessories.

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Earnings History and Estimates for The Finish Line (NASDAQ:FINL)

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