Shares of Barnes & Noble Education (BNED - Free Report) fell 12.5% today in afternoon trading on Wednesday after reporting break-even earnings for the fourth quarter of fiscal year 2017.
Barnes & Noble Education, a contract operator of bookstores for academic institutions, reported fourth quarter net income of $227,000. The company broke even on earnings per share, missing analyst estimates of $0.02 earnings per share.
The company’s sales did well this quarter, however. Sales totaled $342.8 million, up from 294.8 million last year. Same-store sales increased 1.4%.
Earlier this year, Barnes & Noble Education completed the acquisition of MBS Textbook Exchange, a used college textbook wholesaler. Currently, there are 712 MBS stores. Moving forward, Barnes & Noble Education will report in two segments: one for Barnes & Noble College Booksellers, or BNC, and one for MBS.
Looking ahead, Barnes & Noble Education expects total sales to be flat in fiscal year 2018. The company projects comparable store sales to fall to a low-to mid-single digit percentage point range. BNED also expects consolidated sales to be in the range of $2.25 billion to $2.35 billion before intercompany eliminations.
BNED remains a Zacks Rank #3 (Hold). Our current consensus show that there will be positive year-over-year growth for the current year in sales, and the company has a VGM score of ‘B.’
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Shares of Barnes & Noble Education (BNED - Free Report) fell 12.5% today in afternoon trading on Wednesday after reporting break-even earnings for the fourth quarter of fiscal year 2017.
Barnes & Noble Education, a contract operator of bookstores for academic institutions, reported fourth quarter net income of $227,000. The company broke even on earnings per share, missing analyst estimates of $0.02 earnings per share.
The company’s sales did well this quarter, however. Sales totaled $342.8 million, up from 294.8 million last year. Same-store sales increased 1.4%.
Earlier this year, Barnes & Noble Education completed the acquisition of MBS Textbook Exchange, a used college textbook wholesaler. Currently, there are 712 MBS stores. Moving forward, Barnes & Noble Education will report in two segments: one for Barnes & Noble College Booksellers, or BNC, and one for MBS.
Looking ahead, Barnes & Noble Education expects total sales to be flat in fiscal year 2018. The company projects comparable store sales to fall to a low-to mid-single digit percentage point range. BNED also expects consolidated sales to be in the range of $2.25 billion to $2.35 billion before intercompany eliminations.
BNED remains a Zacks Rank #3 (Hold). Our current consensus show that there will be positive year-over-year growth for the current year in sales, and the company has a VGM score of ‘B.’
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade, which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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