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

Zumiez (NASDAQ:ZUMZGet Rating) released 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 analyst estimates of $231.50 million. Zumiez had a return on equity of 15.59% and a net margin of 6.65%. The company’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. Zumiez updated its Q3 2022 guidance to $0.03-$0.18 EPS and its Q3 guidance to $0.03-0.18 EPS.

Zumiez Trading Up 3.8 %

NASDAQ:ZUMZ traded up $1.02 on Friday, reaching $27.56. The stock had a trading volume of 2,904,080 shares, compared to its average volume of 301,184. The company has a 50-day moving average of $27.08 and a 200 day moving average of $32.98. The stock has a market cap of $536.32 million, a P/E ratio of 8.92 and a beta of 1.51. Zumiez has a 12-month low of $23.07 and a 12-month high of $55.10.

Hedge Funds Weigh In On Zumiez

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in Zumiez by 4.1% in the 2nd 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 last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Zumiez by 4.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,838 shares of the apparel and footwear maker’s stock worth $643,000 after purchasing an additional 672 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Zumiez by 946.8% during the first quarter. Captrust Financial Advisors now owns 806 shares of the apparel and footwear maker’s stock worth $31,000 after purchasing an additional 729 shares during the last quarter. Raymond James & Associates lifted its position 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 worth $359,000 after purchasing an additional 1,400 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position 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 worth $434,000 after purchasing an additional 4,012 shares during the last quarter. 87.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.

Further Reading

Earnings History for Zumiez (NASDAQ:ZUMZ)

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