Deckers Outdoor (NYSE:DECK) Updates FY 2023 Earnings Guidance

Deckers Outdoor (NYSE:DECK – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $17.40-$18.25 for the period, compared to the consensus earnings per share estimate of $18.34. The company issued revenue guidance of $3.45 billion-$3.50 billion, compared to the consensus revenue estimate of $3.45 billion.

Several equities analysts have commented on the company. Cowen upped their price target on Deckers Outdoor from $358.00 to $407.00 in a report on Friday, May 20th. Telsey Advisory Group lowered their price objective on Deckers Outdoor from $450.00 to $400.00 and set an outperform rating on the stock in a research note on Friday, May 20th. Stifel Nicolaus upped their price objective on Deckers Outdoor from $315.00 to $338.00 in a research note on Friday, May 20th. Zacks Investment Research upgraded Deckers Outdoor from a sell rating to a hold rating and set a $308.00 price objective on the stock in a research note on Wednesday, April 20th. Finally, Jefferies Financial Group lowered their price objective on Deckers Outdoor from $525.00 to $450.00 and set a buy rating on the stock in a research note on Friday, February 4th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $409.45.

NYSE DECK traded up $14.57 during trading hours on Thursday, reaching $262.16. 485,238 shares of the company’s stock were exchanged, compared to its average volume of 452,845. The stock has a market cap of $7.14 billion, a PE ratio of 16.08 and a beta of 0.84. Deckers Outdoor has a one year low of $212.93 and a one year high of $451.49. The firm has a fifty day moving average of $264.45 and a 200-day moving average of $313.85.

Deckers Outdoor (NYSE:DECK – Get Rating) last announced its quarterly earnings data on Thursday, May 19th. The textile maker reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $1.19. The firm had revenue of $736.00 million for the quarter, compared to analyst estimates of $639.81 million. Deckers Outdoor had a return on equity of 30.49% and a net margin of 14.35%. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the company earned $1.18 EPS. On average, equities analysts forecast that Deckers Outdoor will post 17.54 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. NEXT Financial Group Inc lifted its stake in shares of Deckers Outdoor by 580.0% in the 4th quarter. NEXT Financial Group Inc now owns 102 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 87 shares during the period. Covestor Ltd lifted its stake in shares of Deckers Outdoor by 96.7% in the 1st quarter. Covestor Ltd now owns 419 shares of the textile maker’s stock valued at $115,000 after purchasing an additional 206 shares during the period. CIBC World Markets Inc. acquired a new position in shares of Deckers Outdoor in the 4th quarter valued at $306,000. Echo Street Capital Management LLC acquired a new position in shares of Deckers Outdoor in the 1st quarter valued at $382,000. Finally, Lido Advisors LLC lifted its stake in shares of Deckers Outdoor by 7.7% in the 1st quarter. Lido Advisors LLC now owns 1,685 shares of the textile maker’s stock valued at $461,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Deckers Outdoor Company Profile (Get Rating)

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.

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