Sequential Brands Group Inc. (SQBG) Trading Down 2%
Sequential Brands Group Inc. (NASDAQ:SQBG)’s share price dropped 2% on Friday . The stock traded as low as $7.47 and last traded at $7.48, with a volume of 72,433 shares changing hands. The stock had previously closed at $7.63.
SQBG has been the topic of several analyst reports. Brean Capital initiated coverage on shares of Sequential Brands Group in a report on Tuesday, June 21st. They issued a “buy” rating and a $16.00 price objective on the stock. Piper Jaffray Cos. restated a “buy” rating and issued a $11.00 price objective on shares of Sequential Brands Group in a report on Tuesday, June 14th. Roth Capital restated a “buy” rating on shares of Sequential Brands Group in a report on Thursday, May 12th. Zacks Investment Research upgraded shares of Sequential Brands Group from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a report on Thursday, July 28th. Finally, Canaccord Genuity set a $18.00 price objective on shares of Sequential Brands Group and gave the company a “buy” rating in a report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sequential Brands Group presently has an average rating of “Buy” and a consensus price target of $14.71.
The firm has a 50 day moving average of $7.47 and a 200-day moving average of $7.09. The stock’s market cap is $472.87 million.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. During the same period last year, the firm posted $0.08 earnings per share. The company had revenue of $34.20 million for the quarter, compared to the consensus estimate of $31.23 million. The company’s revenue for the quarter was up 69.3% compared to the same quarter last year. Equities research analysts anticipate that Sequential Brands Group Inc. will post $0.45 EPS for the current year.
Sequential Brands Group, Inc owns a portfolio of consumer brands in the fashion, home, athletic and lifestyle categories. The Company’s portfolio of consumer brands includes Martha Stewart, Emeril Lagasse, Jessica Simpson, Joe’s Jeans, William Rast, Ellen Tracy, Revo, AND1 and Avia. The Company’s brands are licensed for a range of product categories, including apparel, footwear, eyewear, fashion accessories and home goods.
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