$143.42 Million in Sales Expected for Kirkland’s, Inc. (KIRK) This Quarter

Brokerages expect Kirkland’s, Inc. (NASDAQ:KIRK) to announce sales of $143.42 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Kirkland’s’ earnings, with the lowest sales estimate coming in at $141.80 million and the highest estimate coming in at $144.67 million. Kirkland’s posted sales of $138.24 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 28th.

According to Zacks, analysts expect that Kirkland’s will report full-year sales of $143.42 million for the current fiscal year, with estimates ranging from $626.70 million to $632.39 million. For the next financial year, analysts forecast that the business will report sales of $643.58 million per share, with estimates ranging from $639.80 million to $648.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Kirkland’s.

Kirkland’s (NASDAQ:KIRK) last issued its earnings results on Tuesday, August 22nd. The specialty retailer reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. The business had revenue of $131.68 million for the quarter, compared to analysts’ expectations of $125.44 million. Kirkland’s had a return on equity of 6.59% and a net margin of 1.40%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.22) EPS.

A number of research analysts have recently weighed in on KIRK shares. Zacks Investment Research raised shares of Kirkland’s from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Wednesday, August 23rd. Sidoti raised shares of Kirkland’s from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $12.00 in a research note on Tuesday, August 22nd. Finally, B. Riley reissued a “buy” rating and set a $14.50 price objective on shares of Kirkland’s in a research note on Monday, August 28th.

Kirkland’s announced that its Board of Directors has initiated a share buyback program on Tuesday, August 22nd that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Tennessee Treasury Department boosted its position in Kirkland’s by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 13,992 shares of the specialty retailer’s stock worth $174,000 after acquiring an additional 2,112 shares during the last quarter. Texas Permanent School Fund boosted its position in Kirkland’s by 0.9% during the second quarter. Texas Permanent School Fund now owns 10,687 shares of the specialty retailer’s stock worth $110,000 after acquiring an additional 97 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Kirkland’s by 5.0% during the first quarter. Ameriprise Financial Inc. now owns 76,674 shares of the specialty retailer’s stock worth $951,000 after acquiring an additional 3,650 shares during the last quarter. Vanguard Group Inc. boosted its position in Kirkland’s by 8.8% during the first quarter. Vanguard Group Inc. now owns 828,023 shares of the specialty retailer’s stock worth $10,269,000 after acquiring an additional 67,228 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Kirkland’s by 83.2% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 57,512 shares of the specialty retailer’s stock worth $713,000 after acquiring an additional 26,112 shares during the last quarter. Hedge funds and other institutional investors own 87.34% of the company’s stock.

Kirkland’s Company Profile

Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.

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Earnings History and Estimates for Kirkland`s (NASDAQ:KIRK)

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