On May 20, the company reported first-quarter net income of $30.1 million, or 65 cents a share, beating the average estimate of analysts polled by Thomson Reuters for earnings of 61 cents a share. With its focus on premium denim products for teens, The Buckle has been one of the stronger retailers during the recession.
The Buckle has been paying a quarterly dividend of 20 cents a share since the third quarter of 2008. That equates to a yield of 2.43% based on Friday's closing price of $32.92. This is the highest regular dividend yield among this group of ten stocks. The company already has a track record for special dividends, making one-time payments of $1.80 and $2 per share in the third quarters of 2009 and 2008, respectively.Elizabeth Pierce, an analyst with Roth Capital Partners, rates the company a "Buy," with a twelve month target of $43, saying "key drivers include store openings in underpenetrated markets such as the Northeast." Pierce's target price would be a 31% increase from Friday's close.
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