Barnes & Noble (BKS) Shares Down 8.1% Following Weak Earnings

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Barnes & Noble, Inc. (NYSE:BKS)’s share price dropped 8.1% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $4.45 and last traded at $4.55. Approximately 3,223,725 shares traded hands during trading, an increase of 201% from the average daily volume of 1,072,300 shares. The stock had previously closed at $4.95.

The specialty retailer reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.14). Barnes & Noble had a positive return on equity of 7.29% and a negative net margin of 3.43%. The company had revenue of $794.80 million for the quarter, compared to the consensus estimate of $832.40 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year.

Separately, ValuEngine raised shares of Barnes & Noble from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC bought a new stake in Barnes & Noble in the fourth quarter valued at about $109,000. Advisors Preferred LLC increased its stake in Barnes & Noble by 697.0% in the second quarter. Advisors Preferred LLC now owns 19,677 shares of the specialty retailer’s stock valued at $125,000 after acquiring an additional 17,208 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in Barnes & Noble in the second quarter valued at about $131,000. Dynamic Technology Lab Private Ltd bought a new stake in Barnes & Noble in the second quarter valued at about $135,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Barnes & Noble in the first quarter valued at about $121,000. 59.87% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $383.35 million, a price-to-earnings ratio of 7.93 and a beta of 1.62. The company has a current ratio of 1.05, a quick ratio of 0.13 and a debt-to-equity ratio of 0.39.

Barnes & Noble Company Profile (NYSE:BKS)

Barnes & Noble, Inc primarily operates as a bookseller in the United States. The company operates through two segments, B&N Retail and NOOK. It sells trade books, including hardcover and paperback titles; mass market paperbacks, such as mystery, romance, science fiction, and other fiction; and children's books, eBooks and other digital content, NOOK and related accessories, bargain books, magazines, gifts, café products and services, educational toys and games, and music and movies.

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