Zacks: Brokerages Expect Kirkland’s, Inc. (KIRK) Will Announce Quarterly Sales of $143.42 Million
Equities analysts expect that Kirkland’s, Inc. (NASDAQ:KIRK) will report sales of $143.42 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Kirkland’s’ earnings, with the highest sales estimate coming in at $144.67 million and the lowest estimate coming in at $141.80 million. Kirkland’s posted sales of $138.24 million during the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 28th.
On average, analysts expect that Kirkland’s will report full year sales of $143.42 million for the current fiscal year, with estimates ranging from $626.70 million to $632.39 million. For the next financial year, analysts expect that the firm will post sales of $643.58 million per share, with estimates ranging from $639.80 million to $648.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Kirkland’s.
Kirkland’s (NASDAQ:KIRK) last posted its earnings results on Tuesday, August 22nd. The specialty retailer reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. Kirkland’s had a net margin of 1.40% and a return on equity of 6.59%. The business had revenue of $131.68 million during the quarter, compared to the consensus estimate of $125.44 million. During the same quarter in the previous year, the firm posted ($0.22) EPS. The firm’s revenue was up 7.0% on a year-over-year basis.
A number of analysts have recently weighed in on KIRK shares. B. Riley started coverage on shares of Kirkland’s in a research note on Monday, June 26th. They issued a “buy” rating and a $13.50 price objective on the stock. Sidoti upgraded shares of Kirkland’s from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a research note on Tuesday, August 22nd. Finally, Zacks Investment Research upgraded shares of Kirkland’s from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Wednesday, August 23rd.
Large investors have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department increased its stake in shares of Kirkland’s by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 13,992 shares of the specialty retailer’s stock worth $174,000 after acquiring an additional 2,112 shares during the period. Ameriprise Financial Inc. grew its position in Kirkland’s by 5.0% during the first quarter. Ameriprise Financial Inc. now owns 76,674 shares of the specialty retailer’s stock valued at $951,000 after buying an additional 3,650 shares during the period. Vanguard Group Inc. grew its position in Kirkland’s by 8.8% during the first quarter. Vanguard Group Inc. now owns 828,023 shares of the specialty retailer’s stock valued at $10,269,000 after buying an additional 67,228 shares during the period. Texas Permanent School Fund grew its position in Kirkland’s by 0.9% during the second quarter. Texas Permanent School Fund now owns 10,687 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 97 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. grew its position in Kirkland’s by 83.2% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 57,512 shares of the specialty retailer’s stock valued at $713,000 after buying an additional 26,112 shares during the period. Hedge funds and other institutional investors own 87.34% of the company’s stock.
Shares of Kirkland’s (NASDAQ KIRK) opened at 11.75 on Tuesday. The stock’s 50 day moving average is $11.26 and its 200-day moving average is $10.60. Kirkland’s has a 12 month low of $8.17 and a 12 month high of $17.41. The company has a market cap of $188.13 million, a P/E ratio of 22.64 and a beta of 1.23.
Kirkland’s announced that its board has authorized a share buyback program on Tuesday, August 22nd that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.
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