Today, Smith & Wesson Holding Corp. (SWHC) Forecasted to Post Q3 2017 Earnings of $0.59 Per Share

Today, Smith & Wesson Holding Corp. (SWHC) Forecasted to Post Q3 2017 Earnings of $0.59 Per Share
Smith & Wesson Holding Corp. (NASDAQ:SWHC) – Wedbush reduced their Q3 2017 earnings per share (EPS) estimates for Smith & Wesson Holding Corp. in a research note issued on Tuesday. Wedbush analyst J. Hardiman now forecasts that the firm will post earnings of $0.59 per share for the quarter, down from their prior estimate of $0.62. Wedbush currently has a “Neutral” rating and a $32.00 target price on the stock. Wedbush also issued estimates for Smith & Wesson Holding Corp.’s Q4 2017 earnings at $0.71 EPS, FY2017 earnings at $2.53 EPS and FY2018 earnings at $2.53 EPS.

Several other equities research analysts also recently issued reports on the stock. Lake Street Capital downgraded shares of Smith & Wesson Holding Corp. from a “buy” rating to a “hold” rating and cut their price objective for the stock from $37.00 to $20.00 in a research report on Monday. Zacks Investment Research upgraded shares of Smith & Wesson Holding Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, November 19th. Forward View restated a “buy” rating on shares of Smith & Wesson Holding Corp. in a research report on Saturday, November 12th. Vetr upgraded shares of Smith & Wesson Holding Corp. from a “buy” rating to a “strong-buy” rating and set a $30.12 price objective for the company in a research report on Wednesday, November 9th. Finally, Wunderlich downgraded shares of Smith & Wesson Holding Corp. from a “buy” rating to a “hold” rating and cut their price objective for the stock from $36.00 to $29.00 in a research report on Thursday, October 6th. Nine research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Smith & Wesson Holding Corp. presently has an average rating of “Hold” and an average price target of $28.41.

Smith & Wesson Holding Corp. (NASDAQ:SWHC) traded up 1.11% during midday trading on Friday, reaching $23.77. The company had a trading volume of 755,890 shares. The company has a market capitalization of $1.34 billion, a PE ratio of 11.95 and a beta of 0.85. The stock’s 50 day moving average is $25.40 and its 200 day moving average is $26.31. Smith & Wesson Holding Corp. has a one year low of $18.14 and a one year high of $31.19.

Smith & Wesson Holding Corp. (NASDAQ:SWHC) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.09. The business had revenue of $207 million for the quarter. Smith & Wesson Holding Corp. had a return on equity of 42.17% and a net margin of 14.34%. The firm’s revenue was up 40.1% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share.

In other Smith & Wesson Holding Corp. news, Director Michael F. Golden sold 54,200 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $27.00, for a total transaction of $1,463,400.00. Following the sale, the director now owns 344,385 shares of the company’s stock, valued at $9,298,395. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Isabell Marie Wadecki sold 6,500 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $28.50, for a total transaction of $185,250.00. Following the sale, the director now directly owns 35,686 shares in the company, valued at approximately $1,017,051. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Smith & Wesson Holding Corp. during the second quarter worth $14,399,000. New York State Teachers Retirement System bought a new stake in Smith & Wesson Holding Corp. during the second quarter worth $128,000. BB&T Securities LLC bought a new stake in Smith & Wesson Holding Corp. during the second quarter worth $1,724,000. Ameriprise Financial Inc. boosted its stake in Smith & Wesson Holding Corp. by 69.9% in the second quarter. Ameriprise Financial Inc. now owns 323,207 shares of the company’s stock worth $8,785,000 after buying an additional 132,958 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in Smith & Wesson Holding Corp. by 104.6% in the first quarter. BlackRock Group LTD now owns 31,217 shares of the company’s stock worth $831,000 after buying an additional 15,961 shares during the last quarter. 70.63% of the stock is currently owned by hedge funds and other institutional investors.

About Smith & Wesson Holding Corp.

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