Kirkland’s, Inc. (NASDAQ:KIRK) Expected to Post Quarterly Sales of $126.63 Million

Wall Street brokerages predict that Kirkland’s, Inc. (NASDAQ:KIRK) will announce sales of $126.63 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Kirkland’s’ earnings, with estimates ranging from $126.06 million to $127.20 million. Kirkland’s posted sales of $133.90 million in the same quarter last year, which suggests a negative year over year growth rate of 5.4%. The business is expected to announce its next earnings results on Thursday, August 29th.

According to Zacks, analysts expect that Kirkland’s will report full year sales of $619.87 million for the current fiscal year, with estimates ranging from $610.74 million to $629.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $615.81 million, with estimates ranging from $597.63 million to $634.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Kirkland’s.

Kirkland’s (NASDAQ:KIRK) last released its earnings results on Thursday, June 6th. The specialty retailer reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.17). The firm had revenue of $129.60 million during the quarter, compared to analysts’ expectations of $132.37 million. Kirkland’s had a negative return on equity of 1.45% and a negative net margin of 0.67%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share.

Several analysts have recently issued reports on KIRK shares. TheStreet cut shares of Kirkland’s from a “c” rating to a “d” rating in a research note on Thursday, June 6th. B. Riley set a $2.00 price objective on shares of Kirkland’s and gave the company a “hold” rating in a research note on Friday, June 7th. Sidoti set a $9.00 price objective on shares of Kirkland’s and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, ValuEngine raised shares of Kirkland’s from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $7.67.

In other Kirkland’s news, Director Charles Pleas III bought 100,000 shares of Kirkland’s stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average price of $2.39 per share, for a total transaction of $239,000.00. Following the acquisition, the director now owns 112,000 shares of the company’s stock, valued at approximately $267,680. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steven C. Woodward bought 42,918 shares of Kirkland’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $2.36 per share, for a total transaction of $101,286.48. Following the acquisition, the chief executive officer now directly owns 167,954 shares in the company, valued at approximately $396,371.44. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan increased its stake in shares of Kirkland’s by 101.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 97,780 shares of the specialty retailer’s stock worth $221,000 after purchasing an additional 49,310 shares during the last quarter. Foundry Partners LLC increased its stake in shares of Kirkland’s by 13.1% during the 2nd quarter. Foundry Partners LLC now owns 606,470 shares of the specialty retailer’s stock worth $1,371,000 after purchasing an additional 70,375 shares during the last quarter. 6 Meridian increased its stake in shares of Kirkland’s by 12.1% during the 2nd quarter. 6 Meridian now owns 72,691 shares of the specialty retailer’s stock worth $164,000 after purchasing an additional 7,845 shares during the last quarter. Adams Asset Advisors LLC increased its stake in shares of Kirkland’s by 30.2% during the 2nd quarter. Adams Asset Advisors LLC now owns 146,274 shares of the specialty retailer’s stock worth $330,000 after purchasing an additional 33,898 shares during the last quarter. Finally, White Pine Capital LLC increased its stake in shares of Kirkland’s by 1.7% during the 1st quarter. White Pine Capital LLC now owns 164,900 shares of the specialty retailer’s stock worth $1,159,000 after purchasing an additional 2,715 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Shares of NASDAQ KIRK remained flat at $$1.65 during trading on Friday. 115,559 shares of the stock traded hands, compared to its average volume of 431,619. Kirkland’s has a one year low of $1.52 and a one year high of $12.26. The business’s 50-day moving average price is $1.97. The stock has a market cap of $24.08 million, a P/E ratio of 4.33 and a beta of 0.68. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.91.

About Kirkland’s

Kirkland's, Inc operates as a specialty retailer of home décor in the United States. The company's stores provide various merchandise, including holiday décor, furniture, art, fragrance and accessories, ornamental wall décor, decorative accessories, mirrors, lamps, textiles, artificial floral products, gifts, housewares, outdoor living items, frames, and clocks.

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Earnings History and Estimates for Kirkland`s (NASDAQ:KIRK)

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