NEW YORK (TheStreet) -- Guess (GES) shares are down 0.54% to $18.55 in after-hours trading on Tuesday after the company released its first quarter earnings results after the closing bell today.
The Los Angeles-CA-based apparel manufacturer reported first quarter net income of $3.3 million, or 4 cents per share on revenue that declined 8% to $479 million in the quarter.
Analysts on average were expecting the company to report a net loss of 5 cents per share on revenue of $484 million.
The stock could rebound as the company also upped its full year guidance range to between 86 cents and $1.02 per share from its previous view between 75 cents per share and 95 cents per share.
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, attractive 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."