Blue Nile Inc. (NASDAQ:NILE) Receives Average Rating of “Hold” from Brokerages
Shares of Blue Nile Inc. (NASDAQ:NILE) have earned an average recommendation of “Hold” from the nine research firms that are currently covering the firm. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $26.50.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Blue Nile from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. TheStreet upgraded Blue Nile from a “hold” rating to a “buy” rating in a research note on Monday, September 12th. Finally, William Blair restated a “market perform” rating on shares of Blue Nile in a research note on Tuesday, August 9th.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Blue Nile by 1.1% in the second quarter. Vanguard Group Inc. now owns 907,683 shares of the company’s stock worth $24,852,000 after buying an additional 9,698 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Blue Nile by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 391,821 shares of the company’s stock worth $10,728,000 after buying an additional 1,113 shares during the last quarter. Hosking Partners LLP boosted its position in shares of Blue Nile by 15.1% in the second quarter. Hosking Partners LLP now owns 183,420 shares of the company’s stock worth $5,022,000 after buying an additional 24,029 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Blue Nile during the second quarter worth about $2,882,000. Finally, Geode Capital Management LLC boosted its position in shares of Blue Nile by 1.5% in the first quarter. Geode Capital Management LLC now owns 82,932 shares of the company’s stock worth $2,132,000 after buying an additional 1,220 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.
Blue Nile (NASDAQ:NILE) opened at 35.40 on Tuesday. The company has a market capitalization of $411.21 million, a P/E ratio of 40.60 and a beta of 0.46. Blue Nile has a 52 week low of $22.33 and a 52 week high of $39.00. The company’s 50-day moving average price is $34.99 and its 200-day moving average price is $29.05.
Blue Nile (NASDAQ:NILE) last announced its earnings results on Monday, August 8th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.03. Blue Nile had a net margin of 2.14% and a return on equity of 71.40%. The business had revenue of $113.77 million for the quarter, compared to the consensus estimate of $113.95 million. During the same quarter in the previous year, the company earned $0.20 EPS. Blue Nile’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts forecast that Blue Nile will post $0.88 EPS for the current fiscal year.
About Blue Nile
Blue Nile, Inc is an online retailer of diamonds and fine jewelry. The Company operates through the online retail jewelry segment. It sells its products through the Blue Nile Website in over 40 countries and territories across the world. Its domestic sales consist of products delivered to customers within the United States and its international sales consist of products delivered to customers outside the United States.
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