Gold.com (NYSE:GOLD) Shares Gap Down After Earnings Miss

Key Points

• Gold.com shares fell sharply after the company reported quarterly EPS of $0.41, missing the $0.96 consensus estimate, while revenue of $5.01 billion also came in below expectations.
• The company declared a $0.20-per-share special dividend, payable September 28 to shareholders of record on September 16.
• Despite the earnings miss and analyst target cuts, Wall Street’s average rating remains “Moderate Buy”, with a consensus price target of $58.50; institutional investors own 62.85% of the stock.

Gold.com Inc. (NYSE:GOLD - Get Free Report) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $43.82, but opened at $42.28. Gold.com shares last traded at $38.9560, with a volume of 255,400 shares changing hands.

The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($0.55). The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $5.67 billion. Gold.com had a return on equity of 17.82% and a net margin of 0.35%.During the same quarter in the previous year, the business posted $0.41 EPS.

Gold.com Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, September 16th. Gold.com's dividend payout ratio (DPR) is presently 27.40%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GOLD shares. Canaccord Genuity Group dropped their target price on shares of Gold.com from $70.00 to $65.00 and set a "buy" rating for the company in a report on Thursday. Weiss Ratings restated a "hold (c+)" rating on shares of Gold.com in a research report on Monday, August 17th. Roth Capital set a $52.00 price objective on Gold.com in a research note on Thursday, May 7th. Finally, Zacks Research downgraded Gold.com from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Gold.com presently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

Institutional Trading of Gold.com

Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in shares of Gold.com by 3,975.9% during the second quarter. California State Teachers Retirement System now owns 1,183,264 shares of the company's stock valued at $49,236,000 after purchasing an additional 1,154,233 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Gold.com in the fourth quarter worth about $40,273,000. Charles Schwab Investment Management Inc. bought a new position in Gold.com during the fourth quarter valued at approximately $32,408,000. Jacobs Levy Equity Management Inc. purchased a new position in Gold.com during the 4th quarter valued at approximately $17,971,000. Finally, Geode Capital Management LLC bought a new stake in Gold.com in the 4th quarter worth approximately $15,790,000. Hedge funds and other institutional investors own 62.85% of the company's stock.

Gold.com Trading Down 12.1%

The firm has a market cap of $1.12 billion, a P/E ratio of 13.43 and a beta of 0.56. The stock has a 50 day simple moving average of $42.42 and a 200-day simple moving average of $44.67. The company has a current ratio of 1.18, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11.

About Gold.com

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins. This segment also offers various ancillary services, including financing, storage, consignment, logistics, and various customized financial programs; and designs and produces minted silver products.

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