Blue Nile Inc. (NASDAQ:NILE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Blue Nile Inc is the leading online retailer of diamonds and fine jewelry. It has built a well respected brand by providing consumers with a better way to buy diamonds and fine jewelry. Blue Nile has established some of the highest quality standards in the industry and provides consumers with in-depth educational materials and unique online tools that place consumers in control of the jewelry shopping process. The Blue Nile websites showcase thousands of independently certified diamonds and fine jewelry at prices significantly below traditional retail. “
NILE has been the subject of several other reports. William Blair reiterated a “market perform” rating on shares of Blue Nile in a report on Tuesday, August 9th. TheStreet upgraded Blue Nile from a “hold” rating to a “buy” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $22.50.
Blue Nile (NASDAQ:NILE) opened at 40.33 on Friday. The company has a 50 day moving average price of $37.21 and a 200 day moving average price of $31.99. Blue Nile has a 1-year low of $22.33 and a 1-year high of $41.39. The firm has a market cap of $471.74 million, a PE ratio of 49.73 and a beta of 0.02.
Blue Nile (NASDAQ:NILE) last released its earnings results on Monday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.01. The business earned $105.10 million during the quarter, compared to analysts’ expectations of $107.75 million. Blue Nile had a net margin of 2.02% and a return on equity of 59.32%. Blue Nile’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 EPS. On average, equities research analysts forecast that Blue Nile will post $0.87 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of NILE. Credit Suisse AG increased its position in Blue Nile by 4.5% in the third quarter. Credit Suisse AG now owns 16,587 shares of the company’s stock valued at $571,000 after buying an additional 717 shares during the last quarter. Empire Capital Management L.L.C. acquired a new position in Blue Nile during the third quarter valued at approximately $343,000. Capital World Investors acquired a new position in Blue Nile during the third quarter valued at approximately $25,918,000. The Manufacturers Life Insurance Company acquired a new position in Blue Nile during the third quarter valued at approximately $274,000. Finally, Principal Financial Group Inc. increased its position in Blue Nile by 3.6% in the third quarter. Principal Financial Group Inc. now owns 84,614 shares of the company’s stock valued at $2,912,000 after buying an additional 2,924 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.
Blue Nile Company Profile
Blue Nile Inc is a United States-based online jeweler. The Company primarily sells diamonds and fine jewelry online. The Company offers signature diamonds, such as Round, Princess, Emerald, Asscher, and Cushion Hearts & Arrows. The Company offers a range of engagement ring collections, such as Solitaire, Halo, Vintage, Diamond Sidestones, Sapphire Sidestones, Three-Stone, Diamond Preset and Gemstone Preset.