The Finish Line, Inc. came out with fourth-quarter fiscal 2017 results, wherein adjusted earnings from continuing operations of 50 cents per share slumped 41.2% year over year, significantly lagging the Zacks Consensus Estimate of 70 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has shown a slight downtrend over the last 30 days. Further, in the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 5.3%.
Revenues: Finish Line generated net sales of nearly $557.5 million that dipped 0.4% year over year, though it came ahead of the Zacks Consensus Estimate of $549 million. However, comparable store sales dropped 4.5%. Results were largely hurt by a challenging retail landscape, along with soft footwear performance.
Key Events: Finish Line repurchased 250,000 million shares worth $4.4 million during the quarter, taking its fiscal 2017 repurchases to $52.8 million. As of Mar 24, 2017, the company had 4.8 million shares remaining under its standing authorization.
Outlook: Following the results, the company issued its fiscal 2018 outlook. For fiscal 2018, which will have an additional week, the company expects earnings to come in a band of $1.12 - $1.23 per share, reflecting a 6% - 16% year over year improvement. Further, comps growth is anticipated in low-single digit range.
Zacks Rank: Currently, Finish Line carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Finish Line shares fell over 11% during pre-market trading hours following the dismal fourth-quarter earnings.
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Finish Line (FINL) Misses on Q4 Earnings, Stock Plunges 11%
The Finish Line, Inc. came out with fourth-quarter fiscal 2017 results, wherein adjusted earnings from continuing operations of 50 cents per share slumped 41.2% year over year, significantly lagging the Zacks Consensus Estimate of 70 cents.
The Finish Line, Inc. Price and EPS Surprise
The Finish Line, Inc. Price and EPS Surprise | The Finish Line, Inc. Quote
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has shown a slight downtrend over the last 30 days. Further, in the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 5.3%.
Revenues: Finish Line generated net sales of nearly $557.5 million that dipped 0.4% year over year, though it came ahead of the Zacks Consensus Estimate of $549 million. However, comparable store sales dropped 4.5%. Results were largely hurt by a challenging retail landscape, along with soft footwear performance.
Key Events: Finish Line repurchased 250,000 million shares worth $4.4 million during the quarter, taking its fiscal 2017 repurchases to $52.8 million. As of Mar 24, 2017, the company had 4.8 million shares remaining under its standing authorization.
Outlook: Following the results, the company issued its fiscal 2018 outlook. For fiscal 2018, which will have an additional week, the company expects earnings to come in a band of $1.12 - $1.23 per share, reflecting a 6% - 16% year over year improvement. Further, comps growth is anticipated in low-single digit range.
Zacks Rank: Currently, Finish Line carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Finish Line shares fell over 11% during pre-market trading hours following the dismal fourth-quarter earnings.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>