Smith & Wesson Brands (NASDAQ:SWBI) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Smith & Wesson Brands (NASDAQ:SWBI) announced its quarterly earnings results on Wednesday. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03), Zacks reports. Smith & Wesson Brands had a net margin of 2.60% and a return on equity of 3.71%. The business had revenue of $140.76 million during the quarter, compared to analyst estimates of $152.41 million. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year.

Smith & Wesson Brands Stock Performance

SWBI traded down $1.77 during trading on Friday, reaching $9.11. The company’s stock had a trading volume of 882,765 shares, compared to its average volume of 512,564. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.56 and a current ratio of 4.67. The company’s fifty day moving average price is $9.69 and its 200-day moving average price is $10.09. Smith & Wesson Brands has a 52-week low of $8.38 and a 52-week high of $16.85. The company has a market capitalization of $400.80 million, a price-to-earnings ratio of 33.80 and a beta of 1.01.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Smith & Wesson Brands stock. Royal Bank of Canada lifted its stake in shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI) by 25.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,063 shares of the company’s stock after purchasing an additional 8,290 shares during the quarter. Royal Bank of Canada owned about 0.09% of Smith & Wesson Brands worth $383,000 at the end of the most recent quarter. 59.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Lake Street Capital dropped their price objective on Smith & Wesson Brands from $13.00 to $12.50 and set a “buy” rating on the stock in a report on Friday, March 7th.

Smith & Wesson Brands Company Profile

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. Its portfolio includes handguns, long guns, handcuffs, suppressor, and other firearm-related products. The firm’s brands are Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech.