NEW YORK (TheStreet) -- Shares of Express, Inc (EXPR) are surging 11.38% to $16.25 in pre-market trading this morning after the company reported its fiscal second quarter earnings that beat analysts' estimates, and increased its full year outlook.
The retailer's fiscal second quarter net income was $6.87 million, or 8 cents a share, a -59% drop from $16.9 million, or 20 cents a share one year ago, but beating analysts expectations of a break even quarter.
Express raised its outlook for the full year and said it forecasts earnings between 85 cents and 95 cents a share, compared to its previous range of 74 cents to 90 cents per share.
TheStreet Ratings team rates EXPRESS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXPRESS INC (EXPR) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and poor profit margins."