Sequential Brands Group Inc. (SQBG) Trading Down 2%
Sequential Brands Group Inc. (NASDAQ:SQBG) dropped 2% during mid-day trading on Friday . The company traded as low as $7.47 and last traded at $7.48, with a volume of 72,433 shares trading hands. The stock had previously closed at $7.63.
SQBG has been the subject of a number of recent research reports. Brean Capital assumed coverage on Sequential Brands Group in a research note on Tuesday, June 21st. They issued a “buy” rating and a $16.00 target price for the company. Piper Jaffray Cos. reissued a “buy” rating and issued a $11.00 price target on shares of Sequential Brands Group in a report on Tuesday, June 14th. Roth Capital reissued a “buy” rating on shares of Sequential Brands Group in a report on Thursday, May 12th. Canaccord Genuity set a $18.00 price target on Sequential Brands Group and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research raised Sequential Brands Group from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $14.71.
The company has a 50-day moving average price of $7.45 and a 200-day moving average price of $7.09. The stock’s market cap is $472.87 million.
Sequential Brands Group (NASDAQ:SQBG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $34.20 million for the quarter, compared to analyst estimates of $31.23 million. During the same period in the previous year, the business posted $0.08 EPS. Sequential Brands Group’s revenue for the quarter was up 69.3% on a year-over-year basis. On average, analysts expect that Sequential Brands Group Inc. will post $0.45 earnings per share 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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