Blue Nile Inc. (NILE) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “Blue Nile Inc is the leading online retailer of diamonds and fine jewelry. It has built a well respected brand by providing consumers with a better way to buy diamonds and fine jewelry. Blue Nile has established some of the highest quality standards in the industry and provides consumers with in-depth educational materials and unique online tools that place consumers in control of the jewelry shopping process. The Blue Nile websites showcase thousands of independently certified diamonds and fine jewelry at prices significantly below traditional retail. “
A number of other equities analysts have also recently weighed in on the company. TheStreet raised Blue Nile from a hold rating to a buy rating in a research note on Monday, September 12th. William Blair restated a market perform rating on shares of Blue Nile in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $25.67.
Shares of Blue Nile (NASDAQ:NILE) opened at 35.16 on Wednesday. The company’s 50-day moving average is $35.37 and its 200-day moving average is $29.51. Blue Nile has a 52-week low of $22.33 and a 52-week high of $39.00. The firm has a market cap of $408.42 million, a P/E ratio of 40.32 and a beta of 0.46.
Blue Nile (NASDAQ:NILE) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.03. The company earned $113.77 million during the quarter, compared to analysts’ expectations of $113.95 million. Blue Nile had a return on equity of 71.40% and a net margin of 2.14%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 EPS. Equities research analysts forecast that Blue Nile will post $0.88 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors L.L.C. raised its stake in shares of Blue Nile by 145.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,700 shares of the company’s stock valued at $429,000 after buying an additional 9,900 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Blue Nile by 3.0% in the first quarter. Prudential Financial Inc. now owns 45,249 shares of the company’s stock valued at $1,163,000 after buying an additional 1,300 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $2,132,000 after buying an additional 1,220 shares in the last quarter. University of Notre Dame DU Lac raised its stake in shares of Blue Nile by 73.0% in the first quarter. University of Notre Dame DU Lac now owns 49,996 shares of the company’s stock valued at $1,285,000 after buying an additional 21,101 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Blue Nile during the first quarter valued at about $586,000. Institutional investors and hedge funds own 92.48% of the company’s stock.
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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