Iconix Brand (ICON) Stock Falling After Earnings Miss

Iconix Brand (ICON) stock is declining after the company's 2015 third quarter earnings results missed analysts' expectations.
By Amanda Albright ,

NEW YORK (TheStreet) -- Iconix Brand  (ICON) - Get Report stock is falling by 3.32% to $6.98 on heavy trading volume on Wednesday afternoon, after the company's 2015 third quarter earnings results missed analysts' expectations.  

The New York City-based company, which operates brands such as Candie's, Bongo, and Mossimo, reported earnings of 33 cents a share for the third quarter. Revenue declined by 19% year over year to $88.9 million. 

Analysts estimated the company would report earnings of 51 cents per share on revenue of $105 million.

Additionally, Iconix lowered its 2015 earnings guidance to $1.35 per share to $1.50 per share, versus its previous estimate of $2 per share to $2.15 per share.

So far today, 3.29 million shares of Iconix Brand have traded, versus its 30-day average of 2.55 million shares.

Separately, TheStreet Ratings team rates ICONIX BRAND GROUP INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

We rate ICONIX BRAND GROUP INC (ICON) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: ICON

ICON

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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