Dillard’s, Inc. (NYSE:DDS) Shares Gap Down Following Weak Earnings

Dillard’s, Inc. (NYSE:DDS)’s share price gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $61.74, but opened at $61.70. Dillard’s shares last traded at $58.50, with a volume of 1,521,184 shares trading hands.

The company reported ($0.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.77. Dillard’s had a net margin of 2.50% and a return on equity of 9.39%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, June 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, June 28th. Dillard’s’s dividend payout ratio (DPR) is presently 5.76%.

DDS has been the subject of several research reports. BidaskClub raised shares of Dillard’s from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Dillard’s from a “sell” rating to a “hold” rating in a report on Monday, May 15th. TheStreet raised shares of Dillard’s from a “c” rating to a “b-” rating in a report on Tuesday. Deutsche Bank AG lifted their price target on shares of Dillard’s from $39.00 to $42.00 and gave the company a “sell” rating in a report on Tuesday. Finally, ValuEngine lowered shares of Dillard’s from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $55.86.

In related news, major shareholder David Einhorn sold 35,125 shares of Dillard’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $51.50, for a total value of $1,808,937.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 23.27% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Aperio Group LLC increased its stake in shares of Dillard’s by 0.5% in the second quarter. Aperio Group LLC now owns 14,433 shares of the company’s stock valued at $833,000 after buying an additional 74 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Dillard’s by 3.3% in the second quarter. Wedge Capital Management L L P NC now owns 6,857 shares of the company’s stock valued at $396,000 after buying an additional 216 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Dillard’s by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 23,342 shares of the company’s stock valued at $1,219,000 after buying an additional 234 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Dillard’s by 16.4% in the second quarter. LS Investment Advisors LLC now owns 1,995 shares of the company’s stock valued at $115,000 after buying an additional 281 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Dillard’s by 4.2% in the second quarter. Capstone Asset Management Co. now owns 7,860 shares of the company’s stock valued at $453,000 after buying an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 93.36% of the company’s stock.

The firm’s 50 day moving average is $64.28 and its 200 day moving average is $55.96. The stock has a market cap of $1.69 billion, a PE ratio of 12.19 and a beta of 1.12.

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About Dillard’s

Dillard’s, Inc is a retailer of fashion apparel, cosmetics and home furnishing. As of January 28, 2017, the Company operated 293 Dillard’s stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods.

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