Barnes & Noble Inc. (NYSE:BKS)’s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $13.10, but opened at $12.65. Barnes & Noble shares last traded at $12.83, with a volume of 577,912 shares changing hands.
The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.05. The business earned $858.50 million during the quarter, compared to analysts’ expectations of $859.78 million. Barnes & Noble had a net margin of 0.36% and a return on equity of 6.14%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company posted ($0.28) earnings per share.
The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Wednesday, October 5th. Barnes & Noble’s dividend payout ratio is currently 461.57%.
Several research firms recently commented on BKS. Zacks Investment Research upgraded shares of Barnes & Noble from a “sell” rating to a “hold” rating in a report on Thursday, November 10th. Gabelli cut shares of Barnes & Noble from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Sidoti began coverage on shares of Barnes & Noble in a report on Thursday, August 18th. They set a “neutral” rating and a $13.00 price target for the company. Finally, Consumer Edge cut shares of Barnes & Noble from an “outperform” rating to an “equal weight” rating in a report on Wednesday, November 16th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.38.
In other news, insider Frederic Argir sold 17,377 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $11.59, for a total value of $201,399.43. Following the completion of the sale, the insider now directly owns 73,154 shares in the company, valued at $847,854.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David S. Deason sold 9,620 shares of the business’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $10.79, for a total transaction of $103,799.80. Following the completion of the sale, the vice president now owns 96,297 shares of the company’s stock, valued at $1,039,044.63. The disclosure for this sale can be found here. 19.00% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of BKS. Suntrust Banks Inc. purchased a new stake in shares of Barnes & Noble during the second quarter worth $116,000. Emerald Acquisition Ltd. purchased a new stake in shares of Barnes & Noble during the second quarter worth $117,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Barnes & Noble during the third quarter worth $119,000. Rational Advisors LLC purchased a new stake in shares of Barnes & Noble during the second quarter worth $126,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of Barnes & Noble during the second quarter worth $134,000. Institutional investors and hedge funds own 73.57% of the company’s stock.
The stock’s market capitalization is $947.33 million. The firm has a 50 day moving average price of $10.82 and a 200 day moving average price of $11.52.