The 50 day moving average of NYSE:EXPR is 14.76 and the 200 day moving average is 16.74. The price objective is 52.26% higher than the recent closing price of $11.94.
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Shares of fashion retailer Express Inc (NYSE:EXPR) are tumbling in today’s pre-market trading session, already almost 22 percent lower than yesterday’s closing price.
For the full year, the company now expects adjusted earnings of $1 to $1.14 a share, down from previous guidance for $1.41 to $1.54 a share. Analysts expected earnings of about 17 cents a share on $521 million in revenue, according to a consensus estimate from Thomson Reuters.
The company’s net sales decreased 6% to $504.8mln from $535.6mln in the same period in 2015. Its total inventory is also six percent lower compared to the same quarter past year, and its retail inventory down nine percent.
PVH: Analysts expect EPS of $1.29 on $1.94 billion in revenue.
Several institutional investors have modified their holdings of the company. Finally, Meeder Asset Management Inc. increased its stake in Express by 225.0% in the second quarter.
The company’s net income more than halved to $10.1 million, or 13 cents per share, in the quarter, as the company increased markdowns on products as it prepared for the fall season.
Express has made adjustments to its marketing and merchandising, with plans to focus on areas including customer retention and broadening its audience through initiatives such as an emphasis on its Express Next loyalty program. Aperio Group LLC acquired a new position in shares of Express during the first quarter worth approximately $300,000. Strs Ohio increased its stake in Express by 215.7% in the second quarter. New York State Teachers Retirement System now owns 67,245 shares of the company’s stock worth $976,000 after buying an additional 10,400 shares in the last quarter. American Century Companies Inc. now owns 386,400 shares of the company’s stock valued at $5,607,000 after buying an additional 51,901 shares during the last quarter.
Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company.
“Deutsche Bank Markets Research downgraded the company’s stock Wednesday to “hold” from buy”, with a target price of $12. BMO Capital Markets lowered shares of Express from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 25th.
Express, Inc. (NYSE:EXPR) received a stock rating downgrade from Piper Jaffray on Aug-24-16.
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As of its Tuesday close, Express’s stock has dropped 7 percent this year.
