Barnes & Noble Education (BNED) Shares Up 22.9% After Earnings Beat

Barnes & Noble Education Inc (NYSE:BNED)’s share price shot up 22.9% on Wednesday following a stronger than expected earnings report. The company traded as high as $7.95 and last traded at $7.73. 2,897,800 shares were traded during trading, an increase of 824% from the average session volume of 313,743 shares. The stock had previously closed at $6.29.

The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.12. Barnes & Noble Education had a negative return on equity of 0.12% and a negative net margin of 0.08%. The business had revenue of $886.90 million for the quarter, compared to analysts’ expectations of $868.17 million. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis.

Several research firms have recently issued reports on BNED. Zacks Investment Research cut Barnes & Noble Education from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet cut Barnes & Noble Education from a “c-” rating to a “d+” rating in a report on Wednesday, August 23rd. BidaskClub upgraded Barnes & Noble Education from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 18th. ValuEngine upgraded Barnes & Noble Education from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Craig Hallum reiterated a “buy” rating and issued a $10.00 target price (down previously from $16.00) on shares of Barnes & Noble Education in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $10.92.

A number of institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC lifted its stake in shares of Barnes & Noble Education by 10.9% during the first quarter. Teachers Advisors LLC now owns 72,521 shares of the specialty retailer’s stock worth $695,000 after purchasing an additional 7,122 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Barnes & Noble Education by 7.4% during the first quarter. Vanguard Group Inc. now owns 3,220,504 shares of the specialty retailer’s stock worth $30,886,000 after purchasing an additional 223,257 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Barnes & Noble Education by 3.0% during the first quarter. Geode Capital Management LLC now owns 282,054 shares of the specialty retailer’s stock worth $2,704,000 after purchasing an additional 8,209 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Barnes & Noble Education by 8.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 393,529 shares of the specialty retailer’s stock worth $3,774,000 after purchasing an additional 30,956 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Barnes & Noble Education by 121.3% during the first quarter. Bank of America Corp DE now owns 65,691 shares of the specialty retailer’s stock worth $630,000 after purchasing an additional 36,010 shares in the last quarter. Hedge funds and other institutional investors own 67.71% of the company’s stock.

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.32 and a quick ratio of 0.21.

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Barnes & Noble Education Company Profile

Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.

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