Majestic Wine PLC (LON:WINE)’s share price hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as GBX 428.75 ($5.64) and last traded at GBX 425.50 ($5.60), with a volume of 617340 shares. The stock had previously closed at GBX 425.50 ($5.60).
The company reported GBX 7.90 ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of GBX 7.10 ($0.09) by GBX 0.80 ($0.01). The business had revenue of £217.36 million during the quarter. Majestic Wine PLC had a return on equity of 2.22% and a net margin of 0.50%.
A number of brokerages have recently issued reports on WINE. Investec reiterated a “buy” rating and issued a GBX 450 ($5.92) price target on shares of Majestic Wine PLC in a report on Thursday. Liberum Capital restated a “buy” rating and set a GBX 500 ($6.58) target price on shares of Majestic Wine PLC in a research note on Monday, November 13th. Peel Hunt upgraded Majestic Wine PLC to a “buy” rating and boosted their target price for the stock from GBX 380 ($5.00) to GBX 450 ($5.92) in a research note on Thursday. Canaccord Genuity restated a “sell” rating and set a GBX 306 ($4.02) target price on shares of Majestic Wine PLC in a research note on Thursday. Finally, Shore Capital restated a “buy” rating on shares of Majestic Wine PLC in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of GBX 405.20 ($5.33).
In other news, insider James Crawford purchased 3,500 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of GBX 314 ($4.13) per share, for a total transaction of £10,990 ($14,454.82).
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Majestic Wine PLC Company Profile
Majestic Wine plc is a wine retailer. The Company acts as a holding company for its subsidiaries. The Company is engaged in the retailing of wines, beers and spirits. The Company operates through four segments: Retail, Commercial, Naked Wines and Lay & Wheeler. The Retail segment is a customer based wine retailer, selling wine, beer and spirits from stores across the United Kingdom, and online, and also incorporates the Company’s French business.
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