Todays Report: The Deckers Outdoor Corp. (DECK) Releases Q3 Earnings Guidance

The Deckers Outdoor Corp. (DECK) Releases Q3 Earnings Guidance

Deckers Outdoor Corp. (NYSE:DECK) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.16-4.28 for the period, compared to the Thomson Reuters consensus estimate of $4.59. The company issued revenue guidance of down 0-2% to ~$779.98-795.9 million, compared to the consensus revenue estimate of $803.33 million.Deckers Outdoor Corp. also updated its FY17 guidance to $4.05-4.25 EPS.

Deckers Outdoor Corp. (NYSE:DECK) opened at 54.37 on Monday. Deckers Outdoor Corp. has a 12-month low of $40.74 and a 12-month high of $69.94. The company has a market capitalization of $1.74 billion, a P/E ratio of 15.64 and a beta of 1.08. The company’s 50 day moving average price is $58.64 and its 200-day moving average price is $58.91.

Deckers Outdoor Corp. (NYSE:DECK) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $485.90 million for the quarter, compared to analyst estimates of $496.21 million. Deckers Outdoor Corp. had a return on equity of 14.80% and a net margin of 6.19%. Deckers Outdoor Corp.’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. Equities analysts forecast that Deckers Outdoor Corp. will post $4.15 earnings per share for the current fiscal year.

DECK has been the topic of several recent research reports. B. Riley reaffirmed a neutral rating and set a $57.00 target price on shares of Deckers Outdoor Corp. in a report on Wednesday, July 27th. Telsey Advisory Group reaffirmed a market perform rating and set a $68.00 target price (up from $57.00) on shares of Deckers Outdoor Corp. in a report on Friday, July 29th. Citigroup Inc. lifted their target price on Deckers Outdoor Corp. from $56.00 to $69.00 and gave the stock a neutral rating in a report on Friday, July 29th. Jefferies Group lifted their target price on Deckers Outdoor Corp. from $75.00 to $80.00 and gave the stock a buy rating in a report on Friday, July 29th. Finally, Piper Jaffray Cos. reaffirmed a hold rating and set a $63.00 target price on shares of Deckers Outdoor Corp. in a report on Friday, July 29th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. Deckers Outdoor Corp. currently has a consensus rating of Hold and a consensus target price of $58.67.

In other Deckers Outdoor Corp. news, CEO David Powers sold 1,750 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $64.17, for a total transaction of $112,297.50. Following the completion of the transaction, the chief executive officer now directly owns 118,873 shares of the company’s stock, valued at $7,628,080.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Angel R. Martinez sold 29,058 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $67.61, for a total value of $1,964,611.38. Following the transaction, the director now directly owns 393,636 shares of the company’s stock, valued at $26,613,729.96. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC raised its position in shares of Deckers Outdoor Corp. by 6.2% in the second quarter. Nuveen Asset Management LLC now owns 69,877 shares of the company’s stock valued at $4,019,000 after buying an additional 4,106 shares during the period. Pictet Asset Management Ltd. purchased a new position in shares of Deckers Outdoor Corp. during the second quarter valued at $25,350,000. Thrivent Financial for Lutherans raised its position in shares of Deckers Outdoor Corp. by 10.4% in the second quarter. Thrivent Financial for Lutherans now owns 4,550 shares of the company’s stock valued at $262,000 after buying an additional 430 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Deckers Outdoor Corp. by 33.3% in the second quarter. Lord Abbett & CO. LLC now owns 185,106 shares of the company’s stock valued at $10,647,000 after buying an additional 46,242 shares during the period. Finally, Profund Advisors LLC raised its position in shares of Deckers Outdoor Corp. by 13.2% in the second quarter. Profund Advisors LLC now owns 7,572 shares of the company’s stock valued at $436,000 after buying an additional 880 shares during the period.

About Deckers Outdoor Corp.

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