Destination XL Group (DXLG) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Destination XL Group (NASDAQ:DXLG) released its quarterly earnings data on Friday. The specialty retailer reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.06, Bloomberg Earnings reports. Destination XL Group had a negative net margin of 2.81% and a negative return on equity of 11.69%. The business had revenue of $107.07 million during the quarter. Destination XL Group updated its FY 2018 guidance to $-0.13–0.08 EPS.

DXLG traded up $0.08 during trading on Friday, hitting $2.80. The stock had a trading volume of 172,068 shares, compared to its average volume of 188,720. The company has a market capitalization of $133.78 million, a PE ratio of -10.77 and a beta of 0.44. Destination XL Group has a 12 month low of $1.45 and a 12 month high of $3.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.19.

Several equities research analysts recently issued reports on DXLG shares. Lake Street Capital set a $4.00 price objective on shares of Destination XL Group and gave the company a “buy” rating in a research note on Thursday, August 30th. ValuEngine lowered shares of Destination XL Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th.

In related news, major shareholder Prescott Group Capital Managem sold 100,000 shares of Destination XL Group stock in a transaction on Thursday, October 18th. The shares were sold at an average price of $2.69, for a total value of $269,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cannell Capital Llc bought 85,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average price of $2.53 per share, for a total transaction of $216,062.00. The disclosure for this purchase can be found here. Insiders purchased a total of 104,003 shares of company stock worth $262,890 in the last quarter. Insiders own 32.01% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virginia National Bank bought a new position in shares of Destination XL Group during the 3rd quarter worth about $649,000. Roumell Asset Management LLC increased its holdings in shares of Destination XL Group by 15.5% during the 2nd quarter. Roumell Asset Management LLC now owns 938,936 shares of the specialty retailer’s stock worth $2,113,000 after purchasing an additional 126,306 shares during the period. ICM Asset Management Inc. WA increased its holdings in shares of Destination XL Group by 9.7% during the 2nd quarter. ICM Asset Management Inc. WA now owns 1,650,270 shares of the specialty retailer’s stock worth $3,713,000 after purchasing an additional 145,389 shares during the period. Cannell Capital LLC increased its holdings in shares of Destination XL Group by 28.7% during the 2nd quarter. Cannell Capital LLC now owns 4,690,579 shares of the specialty retailer’s stock worth $10,554,000 after purchasing an additional 1,047,192 shares during the period. Finally, Prescott Group Capital Management L.L.C. increased its holdings in shares of Destination XL Group by 26.2% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 6,013,025 shares of the specialty retailer’s stock worth $13,529,000 after purchasing an additional 1,250,000 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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Destination XL Group Company Profile

Destination XL Group, Inc, together with its subsidiaries, operates as a specialty retailer of big and tall men's apparel. Its stores offer sportswear and dress wear; shoes; accessories, such as belts, ties, and socks; fashion-neutral items, including jeans, casual slacks, T-shirts, polo shirts, dress shirts, and suit separates; casual clothing; and lifestyle products comprising chairs, outdoor accessories, travel accessories, bed and bath products, and fitness equipment.

Further Reading: Return on Investment (ROI)

Earnings History for Destination XL Group (NASDAQ:DXLG)

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