Standpoint Research cut shares of DSW Inc. (NYSE:DSW) from a buy rating to a hold rating in a report released on Tuesday morning, MarketBeat reports.
A number of other analysts have also issued reports on the company. BidaskClub lowered DSW from a hold rating to a sell rating in a research report on Friday, June 23rd. Zacks Investment Research raised DSW from a strong sell rating to a hold rating in a research report on Tuesday, May 9th. Wedbush raised DSW from a neutral rating to an outperform rating and set a $22.00 target price on the stock in a research report on Wednesday, July 26th. Deutsche Bank AG raised DSW from a hold rating to a buy rating and set a $21.00 target price on the stock in a research report on Tuesday, July 25th. Finally, Buckingham Research lowered DSW from a buy rating to a neutral rating and set a $20.00 target price on the stock. in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. DSW has a consensus rating of Hold and an average target price of $21.83.
Shares of DSW (NYSE DSW) opened at 19.12 on Tuesday. The stock has a 50 day moving average price of $17.45 and a 200-day moving average price of $18.91. DSW has a 12 month low of $15.14 and a 12 month high of $26.13. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 12.82 and a beta of 0.83.
DSW (NYSE:DSW) last announced its earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.09. The company had revenue of $680.40 million for the quarter, compared to analyst estimates of $666.66 million. DSW had a return on equity of 12.12% and a net margin of 4.41%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 earnings per share. Analysts expect that DSW will post $1.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.18%. DSW’s payout ratio is currently 54.05%.
DSW declared that its Board of Directors has approved a share repurchase program on Tuesday, August 22nd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 33.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, Director Joanne Zaiac sold 4,219 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $17.82, for a total transaction of $75,182.58. Following the completion of the transaction, the director now owns 4,313 shares in the company, valued at $76,857.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Harvey L. Sonnenberg sold 8,439 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $18.00, for a total transaction of $151,902.00. Following the transaction, the director now owns 12,242 shares of the company’s stock, valued at approximately $220,356. The disclosure for this sale can be found here. Insiders own 20.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. FNY Managed Accounts LLC purchased a new position in shares of DSW during the first quarter worth approximately $100,000. Ameritas Investment Partners Inc. bought a new stake in shares of DSW during the first quarter worth $120,000. State of Tennessee Treasury Department bought a new stake in shares of DSW during the first quarter worth $143,000. State of Alaska Department of Revenue bought a new stake in shares of DSW during the first quarter worth $154,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of DSW by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock worth $155,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 83.62% of the company’s stock.
About DSW
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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