Barnes & Noble Education (NYSE:BNED) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Barnes & Noble Education (NYSE:BNED) issued its quarterly earnings data on Tuesday. The specialty retailer reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.11, FiscalAI reports. Barnes & Noble Education had a net margin of 0.98% and a return on equity of 7.92%. The company had revenue of $290.60 million for the quarter, compared to the consensus estimate of $306.66 million.

Barnes & Noble Education Price Performance

Shares of NYSE BNED traded down $0.45 during midday trading on Tuesday, hitting $12.27. The company had a trading volume of 349,101 shares, compared to its average volume of 294,846. The company has a quick ratio of 0.66, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. Barnes & Noble Education has a twelve month low of $5.90 and a twelve month high of $14.75. The business has a 50-day simple moving average of $12.32 and a two-hundred day simple moving average of $10.69. The firm has a market capitalization of $425.24 million, a price-to-earnings ratio of 26.10 and a beta of 1.27.

Barnes & Noble Education Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, July 16th. Barnes & Noble Education’s dividend payout ratio (DPR) is currently 68.09%.

Insider Activity

In related news, CFO Jason Snagusky sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $12.64, for a total value of $63,200.00. Following the completion of the transaction, the chief financial officer directly owned 71,762 shares of the company’s stock, valued at $907,071.68. This trade represents a 6.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 10,513 shares of company stock worth $129,173. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Barnes & Noble Education

A number of large investors have recently bought and sold shares of BNED. Invesco Ltd. raised its position in shares of Barnes & Noble Education by 15.1% in the fourth quarter. Invesco Ltd. now owns 64,070 shares of the specialty retailer’s stock valued at $589,000 after buying an additional 8,418 shares during the last quarter. Kanen Wealth Management LLC grew its stake in Barnes & Noble Education by 10.1% in the 4th quarter. Kanen Wealth Management LLC now owns 3,399,982 shares of the specialty retailer’s stock worth $30,811,000 after acquiring an additional 312,054 shares during the period. XTX Topco Ltd purchased a new stake in Barnes & Noble Education in the 4th quarter worth approximately $298,000. Windward Management LP acquired a new position in Barnes & Noble Education in the 4th quarter valued at $15,623,000. Finally, Royal Bank of Canada lifted its stake in shares of Barnes & Noble Education by 261.1% during the 4th quarter. Royal Bank of Canada now owns 3,972 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 2,872 shares during the period. Institutional investors and hedge funds own 38.51% of the company’s stock.

Wall Street Analysts Forecast Growth

BNED has been the subject of a number of recent research reports. Northland Securities set a $18.50 price objective on Barnes & Noble Education in a research report on Friday, June 26th. Needham & Company LLC upgraded shares of Barnes & Noble Education from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, June 26th. Wall Street Zen downgraded shares of Barnes & Noble Education from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Barnes & Noble Education from a “sell (e+)” rating to a “sell (d+)” rating in a report on Tuesday, July 21st. Finally, Zacks Research upgraded shares of Barnes & Noble Education to a “hold” rating in a research note on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Barnes & Noble Education has an average rating of “Hold” and a consensus target price of $17.25.

Barnes & Noble Education Company Profile

Barnes & Noble Education, Inc (NYSE: BNED) is a leading provider of educational products and services to the higher education community. The company operates retail campus bookstores under Barnes & Noble College, offering course materials, general merchandise, and digital content. In addition, Barnes & Noble Education delivers educational technology solutions through its digital learning platform and supplemental courseware.

Originally part of Barnes & Noble, Inc, the company completed its spin-off and initial public offering in February 2015 to focus exclusively on college retail and digital learning.