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Oxford Industries (OXM) Soars 8.2%: Is Further Upside Left in the Stock?
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Oxford Industries (OXM - Free Report) shares ended the last trading session 8.2% higher at $106.10. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13% gain over the past four weeks.
Shares of Oxford Industries got a boost following the company’s stellar performance in first-quarter fiscal 2021, wherein both the top and bottom lines not only surpassed the Zacks Consensus Estimate but also improved year over year. Stronger-than-expected results prompted management to raise fiscal year guidance.
The company delivered adjusted earnings of $1.89 per share that comfortably surpassed the Zacks Consensus Estimate of $1.06. Impressively, the bottom line improved sharply from a loss of $1.12 reported in the first quarter of fiscal 2020 and earnings of $1.30 posted in the first quarter of fiscal 2019. Net sales of $265.8 million topped the Zacks Consensus Estimate of $233 million. The metric rose sharply from $160.3 million reported in the first quarter of fiscal 2020.
The company raised its earlier provided guidance for fiscal 2021. It now envisions net sales between $1.015 billion and $1.05 billion compared with net sales of $749 million in fiscal 2020 and $1.12 billion in fiscal 2019. The company now expects adjusted earnings in the band of $4.85-$5.15 per share. This compares to an adjusted loss of $1.81 per share in fiscal 2020 and adjusted earnings of $4.32 per share in fiscal 2019.
This owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines is expected to post quarterly earnings of $1.18 per share in its upcoming report, which represents a year-over-year change of +410.5%. Revenues are expected to be $255.78 million, up 33.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Oxford Industries, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OXM going forward to see if this recent jump can turn into more strength down the road.
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Oxford Industries (OXM) Soars 8.2%: Is Further Upside Left in the Stock?
Oxford Industries (OXM - Free Report) shares ended the last trading session 8.2% higher at $106.10. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13% gain over the past four weeks.
Shares of Oxford Industries got a boost following the company’s stellar performance in first-quarter fiscal 2021, wherein both the top and bottom lines not only surpassed the Zacks Consensus Estimate but also improved year over year. Stronger-than-expected results prompted management to raise fiscal year guidance.
The company delivered adjusted earnings of $1.89 per share that comfortably surpassed the Zacks Consensus Estimate of $1.06. Impressively, the bottom line improved sharply from a loss of $1.12 reported in the first quarter of fiscal 2020 and earnings of $1.30 posted in the first quarter of fiscal 2019. Net sales of $265.8 million topped the Zacks Consensus Estimate of $233 million. The metric rose sharply from $160.3 million reported in the first quarter of fiscal 2020.
The company raised its earlier provided guidance for fiscal 2021. It now envisions net sales between $1.015 billion and $1.05 billion compared with net sales of $749 million in fiscal 2020 and $1.12 billion in fiscal 2019. The company now expects adjusted earnings in the band of $4.85-$5.15 per share. This compares to an adjusted loss of $1.81 per share in fiscal 2020 and adjusted earnings of $4.32 per share in fiscal 2019.
This owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines is expected to post quarterly earnings of $1.18 per share in its upcoming report, which represents a year-over-year change of +410.5%. Revenues are expected to be $255.78 million, up 33.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Oxford Industries, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OXM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>