Buckle (NYSE:BKE) Issues Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Buckle reported earnings of $0.89 per share, exceeding expectations of $0.83 by $0.06, with a net margin of 15.95%.
• The company declared a quarterly dividend of $0.35 per share, yielding 2.6% annually, with a payout ratio of 35.99%.
• Despite strong earnings, Buckle's stock declined by 0.3% following the earnings announcement.

Buckle (NYSE:BKE - Get Free Report) posted its earnings results on Friday. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06, RTT News reports. Buckle had a net margin of 15.95% and a return on equity of 43.13%. During the same quarter in the prior year, the company posted $0.78 earnings per share. Buckle's revenue was up 8.3% on a year-over-year basis.

Buckle Stock Down 0.3%

BKE stock opened at $54.8780 on Friday. The stock's 50 day moving average is $49.07 and its two-hundred day moving average is $42.54. Buckle has a 52-week low of $33.12 and a 52-week high of $57.53. The company has a market capitalization of $2.81 billion, a PE ratio of 14.11 and a beta of 1.05.

Buckle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, July 15th. Buckle's dividend payout ratio (DPR) is 35.99%.

Insiders Place Their Bets

In other news, Director James E. Shada sold 10,000 shares of Buckle stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $49.84, for a total value of $498,400.00. Following the completion of the transaction, the director owned 85,352 shares in the company, valued at approximately $4,253,943.68. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dennis H. Nelson sold 20,453 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.52, for a total value of $890,114.56. Following the transaction, the chief executive officer owned 1,655,204 shares in the company, valued at $72,034,478.08. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Buckle

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its position in shares of Buckle by 1,928.1% during the first quarter. Geneos Wealth Management Inc. now owns 649 shares of the company's stock worth $25,000 after acquiring an additional 617 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Buckle by 162.2% during the second quarter. EverSource Wealth Advisors LLC now owns 957 shares of the company's stock worth $43,000 after buying an additional 592 shares during the period. Tower Research Capital LLC TRC increased its position in Buckle by 24.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,158 shares of the company's stock valued at $143,000 after acquiring an additional 622 shares during the period. Voleon Capital Management LP acquired a new position in Buckle during the 2nd quarter worth $256,000. Finally, Evergreen Capital Management LLC bought a new position in Buckle in the 2nd quarter valued at about $393,000. 53.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BKE shares. Wall Street Zen raised shares of Buckle from a "hold" rating to a "buy" rating in a research note on Friday, May 23rd. UBS Group upped their price target on shares of Buckle from $40.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $51.00.

About Buckle

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.