Kirkland’s (KIRK) Stock Price Down 23.4% on Disappointing Earnings
Kirkland’s, Inc. (NASDAQ:KIRK)’s share price fell 23.4% on Friday following a dissappointing earnings announcement. The stock traded as low as $7.45 and last traded at $7.90. 1,423,097 shares changed hands during mid-day trading, an increase of 914% from the average session volume of 140,306 shares. The stock had previously closed at $10.31.
The specialty retailer reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The firm had revenue of $216.10 million for the quarter, compared to analysts’ expectations of $222.68 million. Kirkland’s had a net margin of 0.38% and a return on equity of 3.32%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS.
A number of research firms recently commented on KIRK. B. Riley set a $16.00 price objective on Kirkland’s and gave the company a “buy” rating in a research report on Friday, November 30th. Zacks Investment Research cut Kirkland’s from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. Finally, ValuEngine cut Kirkland’s from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st.
The stock has a market capitalization of $117.38 million, a P/E ratio of 20.79 and a beta of 1.02.
About Kirkland’s (NASDAQ:KIRK)
Kirkland's, Inc operates as a specialty retailer of home décor in the United States. The company's stores provide various merchandise, including holiday décor, framed arts, furniture, ornamental wall décor, fragrance and accessories, mirrors, lamps, decorative accessories, textiles, housewares, gifts, artificial floral products, frames, clocks, and outdoor living items.
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