Buckle (NYSE:BKE) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Posted by Defense World Staff on Aug 21st, 2023

Buckle (NYSE:BKE – Get Free Report) issued its quarterly earnings data on Friday. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11, MarketWatch Earnings reports. The business had revenue of $292.40 million for the quarter, compared to the consensus estimate of $292.40 million. Buckle had a return on equity of 60.35% and a net margin of 18.37%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS.

Buckle Price Performance

BKE opened at $37.36 on Monday. The business’s 50-day moving average price is $35.24 and its two-hundred day moving average price is $35.67. Buckle has a 1 year low of $30.18 and a 1 year high of $50.35. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 7.82 and a beta of 1.08.

Buckle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, July 13th. Buckle’s dividend payout ratio is 29.29%.

Institutional Trading of Buckle

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Buckle by 32.0% in the 2nd quarter. Wells Fargo & Company MN now owns 41,532 shares of the company’s stock valued at $1,437,000 after purchasing an additional 10,057 shares during the period. Blueshift Asset Management LLC bought a new position in shares of Buckle in the 2nd quarter valued at about $600,000. Lazard Asset Management LLC grew its holdings in shares of Buckle by 10.9% in the 2nd quarter. Lazard Asset Management LLC now owns 14,275 shares of the company’s stock valued at $493,000 after acquiring an additional 1,402 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Buckle in the 2nd quarter valued at about $605,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Buckle by 139.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 19,952 shares of the company’s stock valued at $690,000 after acquiring an additional 11,628 shares in the last quarter. Institutional investors and hedge funds own 54.50% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Buckle in a research note on Thursday. They set a “hold” rating on the stock.

Read Our Latest Research Report on BKE

About Buckle

(Get Free Report)

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Reclaim, BKE Vintage, Nova Industries, J.B.