NEW YORK (TheStreet) -- Guess? (GES) shares are up 0.6% to $22.30 in after-hours trading on Wednesday after the apparel company announced its third quarter earnings results following the closing bell today.
The company reported third quarter net earnings of $21.5 million, or 42 cents per diluted share on an adjusted basis, down from the $34 million it reported a year ago but well ahead of analysts' 18 cent per diluted share estimates for the period.
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Guess? also reported third quarter revenue of $589.8 million that fell short of analysts' $595.3 million expectations.
The company also issued a fourth quarter earnings guidance range between 53 cents per share and 63 cents per share that fell short of FactSet's 69 cent per share average estimate.
TheStreet Ratings team rates GUESS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate GUESS INC (GES) 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, reasonable valuation levels and expanding profit margins. 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 disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: GES Ratings Report
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