Williams-Sonoma (NYSE:WSM) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Williams-Sonoma (NYSE:WSM) posted its quarterly earnings data on Thursday. The specialty retailer reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.13, Briefing.com reports. Williams-Sonoma had a return on equity of 52.83% and a net margin of 14.29%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company earned $1.56 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. Williams-Sonoma updated its FY 2024 guidance to EPS.

Williams-Sonoma Price Performance

WSM stock opened at $139.51 on Friday. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.00 and a beta of 1.75. Williams-Sonoma has a 1-year low of $69.02 and a 1-year high of $174.26. The firm has a fifty day moving average price of $146.15 and a two-hundred day moving average price of $142.07.

Williams-Sonoma Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 19th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, July 19th. Williams-Sonoma’s dividend payout ratio (DPR) is presently 28.01%.

Analyst Upgrades and Downgrades

WSM has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price objective on Williams-Sonoma from $137.50 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Evercore ISI lowered their price objective on shares of Williams-Sonoma from $155.00 to $135.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Williams-Sonoma in a research report on Thursday, May 23rd. Robert W. Baird reduced their target price on Williams-Sonoma from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Barclays dropped their price target on Williams-Sonoma from $232.00 to $116.00 and set an “underweight” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $134.90.

Insider Transactions at Williams-Sonoma

In related news, CEO Laura Alber sold 40,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $156.45, for a total transaction of $6,258,000.00. Following the completion of the sale, the chief executive officer now owns 1,070,956 shares of the company’s stock, valued at approximately $167,551,066.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Williams-Sonoma news, insider Monica Bhargava sold 17,862 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $149.14, for a total value of $2,663,938.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Laura Alber sold 40,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $156.45, for a total transaction of $6,258,000.00. Following the transaction, the chief executive officer now directly owns 1,070,956 shares of the company’s stock, valued at approximately $167,551,066.20. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Williams-Sonoma Company Profile

Williams-Sonoma, Inc operates as an omni-channel specialty retailer of various products for home. It offers cooking, dining, and entertaining products, such as cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma Home brand, as well as home furnishings and decorative accessories under the Williams Sonoma lifestyle brand; and furniture, bedding, lighting, rugs, table essentials, and decorative accessories under the Pottery Barn brand.