SSI shares were ahead almost 5% at $6.01 each in recent trade after earlier climbing to a session high of $6.56 a share.
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Shares of Stage Stores Inc (NYSE:SSI) jumped 3.49% to reach at $5.93 during the course of session. The shares were purchased at an average cost of $5.25 per share, with a total value of $31,500.00. Following the acquisition, the chief executive officer now directly owns 640,113 shares in the company, valued at $3,104,548.05. The company has a market cap of $153.56 million.
The Company announced that its Board of Directors has declared a quarterly cash dividend of 15 cents per share on the Company’s common stock, payable on September 14, 2016 to shareholders of record at the close of business on August 30, 2016.
Stage Stores also reaffirmed its in-line FY17 guidance, forecasting non-GAAP earnings in a range of $0.20 to $0.40 per share, bridging the $$0.21 per share consensus for the current year. (SSI) purchased shares in the company in a transaction completed on Monday June 20, 2016.
The Company affirmed its fiscal year guidance of comparable sales of -6% to -4% and adjusted earnings per diluted share of $0.20 to $0.40. The company’s quarterly revenue was down 11.2% compared to the same quarter previous year. The disclosure for this purchase can be found here. The $11.64 average target is 96.29% above today’s ($5.93) stock price. Stage Stores Inc (NYSE:SSI) has declined 26.61% since January 14, 2016 and is downtrending. Total debt to equity ratio of the company for most recent quarter is 0.00 whereas long term debt to equity ratio for most recent quarter is 0.47.
On an adjusted basis, net income was $0.8 million, or $0.03 per diluted share versus $0.22 per diluted share in the prior year. There was another key note issued by BofA/Merrill on Friday August 21, 2015. Strs Ohio raised its position in Stage Stores by 8.3% in the second quarter.
SSI has been the subject of a number of other reports.
Pacific Ridge Capital Partners Llc holds 1.12% of its portfolio in Stage Stores Inc for 311,590 shares. Zacks Investment Research upgraded Stage Stores from a strong sell rating to a hold rating in a research report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Telsey Advisory Group decreased their target price on Stage Stores from $7.50 to $5.25 and set a market perform rating on the stock in a research report on Friday, May 20th. The stock now has an average rating of Hold and an average price target of $8.68.
Stage Stores, Inc operates specialty department stores mainly in small and mid-sized towns and communities.
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Stage Stores operates 821 stores in 38 states under the Bealls, Goody’s, Palais Royal, Peebles and Stage.
