Zumiez (NASDAQ:ZUMZ - Get Free Report) announced that its Board of Directors has initiated a share repurchase program on Thursday, June 5th, RTT News reports. The company plans to buyback $15.00 million in shares. This buyback authorization authorizes the apparel and footwear maker to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Zumiez Trading Down 10.0%
Zumiez stock traded down $1.28 during trading hours on Friday, reaching $11.58. 713,260 shares of the company were exchanged, compared to its average volume of 299,379. The firm has a market cap of $226.59 million, a price-to-earnings ratio of -4.51 and a beta of 0.90. The stock has a 50-day moving average of $12.65 and a 200 day moving average of $15.57. Zumiez has a 12 month low of $11.31 and a 12 month high of $31.37.
Zumiez (NASDAQ:ZUMZ - Get Free Report) last announced its earnings results on Thursday, June 5th. The apparel and footwear maker reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.77) by ($0.02). Zumiez had a negative return on equity of 2.67% and a negative net margin of 5.60%. The company had revenue of $184.34 million for the quarter, compared to the consensus estimate of $182.23 million. During the same period in the previous year, the company earned ($0.86) EPS. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Zumiez will post -0.12 EPS for the current year.
Zumiez Company Profile
(
Get Free Report)
Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.
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