Barnes & Noble Education Inc (NYSE:BNED) has been in the eye of analysts’ for long. BWS financial boosted the stock price target to $14 and initiated Strong Buy for the stock.
The stock is currently at $9.54 with the gain of 0.53 percent. The market capitalization of the stock is 444.32 Million. The firm has an average volume of 236,382.00.
On September 8, 2016 Barnes & Noble Education Inc (NYSE:BNED) reported sales and earnings for the first quarter for fiscal 2017.
Financial highlights for the first quarter 2017:
- Sales of $239.2 million increased 0.1%, as compared to prior year period.
- Comparable store sales decreased 2.8% for the quarter.
- Net loss of $(27.9) million included restructuring costs of $1.8 million, compared with a net loss of $(26.9) million in the prior year period.
- Non-GAAP Adjusted EBITDA of $(36.5) million, a decrease of $1.4 million, as compared to prior year period.
- Non-GAAP Adjusted Earnings of $(25.9) million, as compared to Adjusted Earnings of $(26.9) million in the prior year period.
Operational highlights for the first quarter 2017:
- Opened 33 new stores with estimated annual sales of $110 million, bringing total stores operated to 770 locations as of July 30, 2016. The Company will be opening another two stores in fiscal 2017 based upon new contracts signed to date.
- Completed the acquisition of Promoversity, a custom merchandise supplier and e-commerce storefront solution serving the collegiate bookstore business and its customers.
- Established partnership with Instructure, Inc., a leading software-as-a-service (SaaS) technology company and creator of the Canvas learning management system (LMS), increasing capabilities to improve student outcomes and retention.