Kirkland’s, Inc. (NASDAQ:KIRK) – SunTrust Banks boosted their FY2018 earnings per share (EPS) estimates for Kirkland’s in a research note issued on Tuesday. SunTrust Banks analyst D. Magee now forecasts that the specialty retailer will post earnings of $0.60 per share for the year, up from their prior estimate of $0.55. SunTrust Banks also issued estimates for Kirkland’s’ Q4 2018 earnings at $0.95 EPS and FY2019 earnings at $0.75 EPS.
Kirkland’s (NASDAQ:KIRK) last released its quarterly earnings data on Tuesday, August 22nd. The specialty retailer reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. Kirkland’s had a return on equity of 6.59% and a net margin of 1.40%. The company had revenue of $131.68 million for the quarter, compared to analyst estimates of $125.44 million. During the same period in the prior year, the company posted ($0.22) EPS. The company’s revenue was up 7.0% compared to the same quarter last year.
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Several other research firms have also recently weighed in on KIRK. B. Riley restated a “buy” rating and set a $14.50 price objective on shares of Kirkland’s in a research report on Wednesday. Zacks Investment Research upgraded shares of Kirkland’s from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Wednesday. Finally, Sidoti upgraded shares of Kirkland’s from a “neutral” rating to a “buy” rating and raised their price objective for the company from $10.00 to $12.00 in a research report on Tuesday.
Kirkland’s (NASDAQ:KIRK) traded down 2.40% during midday trading on Wednesday, hitting $11.38. The stock had a trading volume of 269,532 shares. The company’s 50 day moving average is $9.57 and its 200 day moving average is $10.65. The company has a market cap of $182.08 million, a price-to-earnings ratio of 21.93 and a beta of 1.25. Kirkland’s has a 1-year low of $8.17 and a 1-year high of $17.41.
Kirkland’s declared that its Board of Directors has approved a share repurchase program on Tuesday, August 22nd that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently modified their holdings of KIRK. JPMorgan Chase & Co. boosted its position in shares of Kirkland’s by 1,103.1% in the second quarter. JPMorgan Chase & Co. now owns 9,998 shares of the specialty retailer’s stock worth $103,000 after buying an additional 9,167 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Kirkland’s during the second quarter worth approximately $105,000. Texas Permanent School Fund boosted its position in shares of Kirkland’s by 0.9% in the second quarter. Texas Permanent School Fund now owns 10,687 shares of the specialty retailer’s stock worth $110,000 after buying an additional 97 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Kirkland’s during the second quarter worth approximately $112,000. Finally, Wells Fargo & Company MN boosted its position in shares of Kirkland’s by 3.6% in the first quarter. Wells Fargo & Company MN now owns 10,533 shares of the specialty retailer’s stock worth $131,000 after buying an additional 363 shares during the last quarter. Institutional investors own 85.59% of the company’s stock.
Kirkland’s Company Profile
Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.
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