Zumiez (NASDAQ:ZUMZ) Announces Earnings Results, Misses Expectations By $0.31 EPS

Zumiez (NASDAQ:ZUMZGet Rating) posted its quarterly earnings data on Thursday. The apparel and footwear maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.31), Briefing.com reports. The firm had revenue of $219.99 million for the quarter, compared to analysts’ expectations of $231.50 million. Zumiez had a net margin of 6.65% and a return on equity of 15.59%. The firm’s revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. Zumiez updated its Q3 2022 guidance to $0.03-$0.18 EPS and its Q3 guidance to $0.03-0.18 EPS.

Zumiez Stock Up 3.8 %

Shares of Zumiez stock traded up $1.02 on Friday, hitting $27.56. 2,904,080 shares of the company were exchanged, compared to its average volume of 301,184. The stock has a market capitalization of $536.32 million, a price-to-earnings ratio of 8.92 and a beta of 1.51. The company has a 50-day moving average price of $27.08 and a 200 day moving average price of $32.98. Zumiez has a 1-year low of $23.07 and a 1-year high of $55.10.

Analysts Set New Price Targets

A number of brokerages have commented on ZUMZ. B. Riley cut Zumiez from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $25.00 in a research report on Friday. StockNews.com cut Zumiez from a “buy” rating to a “hold” rating in a research report on Monday, June 6th. TheStreet cut Zumiez from a “b-” rating to a “c” rating in a research report on Friday, June 3rd. Finally, William Blair lowered Zumiez from an “outperform” rating to a “market perform” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in Zumiez by 946.8% in the 1st quarter. Captrust Financial Advisors now owns 806 shares of the apparel and footwear maker’s stock valued at $31,000 after purchasing an additional 729 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Zumiez by 4.1% in the second quarter. Envestnet Asset Management Inc. now owns 13,475 shares of the apparel and footwear maker’s stock valued at $350,000 after buying an additional 528 shares during the period. Raymond James & Associates raised its stake in shares of Zumiez by 17.5% during the first quarter. Raymond James & Associates now owns 9,403 shares of the apparel and footwear maker’s stock valued at $359,000 after purchasing an additional 1,400 shares during the period. MetLife Investment Management LLC raised its stake in shares of Zumiez by 54.6% during the first quarter. MetLife Investment Management LLC now owns 11,362 shares of the apparel and footwear maker’s stock valued at $434,000 after purchasing an additional 4,012 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Zumiez during the second quarter valued at approximately $462,000. 87.11% of the stock is currently owned by institutional investors and hedge funds.

About Zumiez

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Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of February 26, 2022, the company operated 738 stores, including 602 stores in the United States, 52 stores in Canada, 67 stores in Europe, and 17 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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Earnings History for Zumiez (NASDAQ:ZUMZ)

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