Barnes & Noble Inc. (BKS) Stock Price Down 11.7%
Barnes & Noble Inc. (NYSE:BKS)’s share price was down 11.7% during trading on Wednesday . The stock traded as low as $11.58 and last traded at $11.81, with a volume of 1,645,447 shares changing hands. The stock had previously closed at $13.38.
Several equities analysts recently commented on BKS shares. Zacks Investment Research upgraded shares of Barnes & Noble from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, July 19th. Sidoti assumed coverage on shares of Barnes & Noble in a research note on Thursday. They issued a “neutral” rating and a $13.00 price objective for the company. Gabelli cut shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, TheStreet cut shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Barnes & Noble currently has a consensus rating of “Hold” and an average target price of C$17.10.
The firm has a 50 day moving average of $12.67 and a 200-day moving average of $11.50. The stock’s market cap is $854.62 million.
Barnes & Noble (NYSE:BKS) last released its earnings results on Wednesday, June 22nd. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.24) by $0.18. The company had revenue of $876.70 million for the quarter. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.37) earnings per share. On average, equities research analysts expect that Barnes & Noble Inc. will post $0.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 8th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $0.60 dividend on an annualized basis and a yield of 5.18%.
Other institutional investors recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in Barnes & Noble by 40.8% in the fourth quarter. First Trust Advisors LP now owns 165,699 shares of the company’s stock worth $1,443,000 after buying an additional 48,051 shares during the period. New York State Common Retirement Fund boosted its position in Barnes & Noble by 136.2% in the fourth quarter. New York State Common Retirement Fund now owns 376,280 shares of the company’s stock worth $3,277,000 after buying an additional 216,970 shares during the period. Morgan Stanley boosted its position in Barnes & Noble by 35.7% in the fourth quarter. Morgan Stanley now owns 1,389,575 shares of the company’s stock worth $12,102,000 after buying an additional 365,931 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Barnes & Noble by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,252,050 shares of the company’s stock worth $54,455,000 after buying an additional 503,755 shares during the period.
Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.