Finish Line's Dismal Earnings, Guidance Follow Nike's Retail Warning

(FINL) plunged 15% toward a 6 1/2-year low in premarket trade Friday, after the athletic shoe and apparel retailer reported a fiscal fourth-quarter profit that fell well short of expectations amid heavy discounting to clear inventory. The company reported $-0.24 EPS for the quarter, missing the analyst consensus estimate by $ -0.06. The business earned $371.70 million during the quarter, compared to the consensus estimate of $411.61 million.

Finish Line now showing 2.5% EPS growth this year. They set a buy rating and a $29.00 price objective on the stock.

This year, the company showed a solid 2.5 percent of growth. Zacks Investment Research gave Finish Line Inc.

Hedge funds and other institutional investors have recently modified their holdings of the company. The Predicted Move on the 7th day after Finish Line Inc. Boston Partners now owns 1,766,226 shares of the company's stock worth $40,764,000 after buying an additional 97,485 shares during the period. KBC Group NV now owns 34,334 shares of the company's stock valued at $792,000 after buying an additional 9,543 shares during the period. Tudor Investment Corp Et Al now owns 31,383 shares of the company's stock worth $590,000 after buying an additional 228 shares during the period. The companys revenue was down -2.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.07 EPS.

On Wednesday, Finish Line Inc (NASDAQ:FINL) stock opened its trade at $16.03 and after floating in a range of $15.18 to $16.21, settled at $15.41.

Finish Line (NASDAQ:FINL) last announced its quarterly earnings data on Friday, March 24th. The brokerage now has a $18.00 target price on the stock. On the other hand, if earnings spark another sell-off, FINL stock could head to even lower lows. The third largest holder is Dimensional Fund Advisors Lp, which now holds $59.27 million worth of this stock and that ownership represents almost 8.49% of its market capitalization. Twenty research analysts have rated the stock with a hold rating and three have given a buy rating to the company.

Skechers Performance a division of Skechers U.S.A., Inc. Financial & Investment Management Group Ltd, a Michigan-based fund reported 138,507 shares. (FINL) to hit $19.19 Price Target in next one year, this mean price is come up through the consensus of analysts.

Stock is now moving with a negative distance from the 200 day simple moving average of approximately -23.89%, and has a poor year to date (YTD) performance of -17.55% which means the stock is constantly subtracting to its value from the previous fiscal year end price. Boston Partners raised its position in shares of Finish Line by 5.8% in the third quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Finish Line by 63.3% in the fourth quarter. Investors of record on Friday, February 24th were given a $0.11 dividend. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Analysts are forecasting earnings of $0.7 on a per share basis this quarter. The ex-dividend date of this dividend was Wednesday, February 22nd. Finish Line's dividend payout ratio (DPR) is -285.71%. It operates in two divisions, the Finish Line and JackRabbit.

Now the P/E of Finish Line Inc. stands at 24.04. Finish Line carries a selection of men's, women's and kids' athletic shoes (footwear), as well as an assortment of apparel and accessories (softgoods).

  • Zachary Reyes