Ermenegildo Zegna (NYSE:ZGN) Releases Earnings Results, Misses Estimates By $0.12 EPS

Key Points

• Ermenegildo Zegna reported quarterly EPS of $0.06, missing analysts’ $0.18 consensus estimate by $0.12. Revenue totaled $563.39 million, well below expectations of $1.13 billion.
• Zegna shares opened at $12.56, with a 52-week range of $8.23 to $15.95. The company maintains relatively modest leverage, with a debt-to-equity ratio of 0.15.
• Analyst sentiment is mixed: Zegna has an average rating of “Hold” and a consensus price target of $13.13, while several hedge funds increased their positions and institutional investors own 12.91% of the stock.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12), FiscalAI reports. The company had revenue of $563.39 million for the quarter, compared to analysts' expectations of $1.13 billion.

Ermenegildo Zegna Price Performance

Shares of Ermenegildo Zegna stock opened at $12.56 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. Ermenegildo Zegna has a 1 year low of $8.23 and a 1 year high of $15.95. The company's fifty day moving average is $13.86 and its two-hundred day moving average is $12.70.

Institutional Investors Weigh In On Ermenegildo Zegna

Several hedge funds have recently made changes to their positions in ZGN. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Ermenegildo Zegna by 74.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company's stock worth $42,822,000 after buying an additional 1,785,266 shares during the last quarter. Millennium Management LLC raised its stake in Ermenegildo Zegna by 73.7% during the 4th quarter. Millennium Management LLC now owns 1,188,887 shares of the company's stock valued at $12,186,000 after acquiring an additional 504,546 shares during the last quarter. State Street Corp lifted its position in Ermenegildo Zegna by 3.2% during the 4th quarter. State Street Corp now owns 878,867 shares of the company's stock worth $9,014,000 after acquiring an additional 27,336 shares during the period. UBS Group AG lifted its position in Ermenegildo Zegna by 18.6% during the 3rd quarter. UBS Group AG now owns 773,453 shares of the company's stock worth $7,309,000 after acquiring an additional 121,311 shares during the period. Finally, Geode Capital Management LLC purchased a new position in shares of Ermenegildo Zegna in the 2nd quarter valued at approximately $6,245,000. Institutional investors and hedge funds own 12.91% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group cut Ermenegildo Zegna from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. Wall Street Zen cut Ermenegildo Zegna from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. TD Cowen raised their price target on Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their price target on Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded Ermenegildo Zegna from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ermenegildo Zegna currently has an average rating of "Hold" and a consensus price target of $13.13.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men's tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.

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