Sequential Brands Group, Inc. (SQBG) Hits New 12-Month Low Following Weak Earnings

Sequential Brands Group, Inc. (NASDAQ:SQBG) shares hit a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $1.39 and last traded at $1.39, with a volume of 410430 shares changing hands. The stock had previously closed at $1.45.

The textile maker reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The business had revenue of $39.00 million during the quarter, compared to analysts’ expectations of $43.66 million. Sequential Brands Group had a return on equity of 1.29% and a net margin of 0.99%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share.

A number of analysts have recently weighed in on SQBG shares. Zacks Investment Research downgraded shares of Sequential Brands Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Cowen and Company set a $6.00 target price on shares of Sequential Brands Group and gave the stock a “hold” rating in a research report on Thursday, July 27th. Roth Capital set a $3.00 target price on shares of Sequential Brands Group and gave the stock a “buy” rating in a research report on Monday, October 23rd. ValuEngine downgraded shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Canaccord Genuity set a $6.00 target price on shares of Sequential Brands Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $7.08.

Institutional investors have recently made changes to their positions in the stock. IHT Wealth Management LLC bought a new position in Sequential Brands Group in the 2nd quarter worth about $712,000. Voya Investment Management LLC boosted its stake in Sequential Brands Group by 37.6% in the 2nd quarter. Voya Investment Management LLC now owns 25,485 shares of the textile maker’s stock worth $102,000 after purchasing an additional 6,958 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Sequential Brands Group by 15.3% in the 1st quarter. Wells Fargo & Company MN now owns 41,404 shares of the textile maker’s stock worth $161,000 after purchasing an additional 5,482 shares in the last quarter. Rhumbline Advisers boosted its stake in Sequential Brands Group by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 47,762 shares of the textile maker’s stock worth $191,000 after purchasing an additional 1,780 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new position in Sequential Brands Group in the 2nd quarter worth about $200,000. Institutional investors own 52.20% of the company’s stock.

The stock has a market capitalization of $92.14, a P/E ratio of 23.70, a PEG ratio of 0.31 and a beta of 0.48. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.11.

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Sequential Brands Group Company Profile

Sequential Brands Group, Inc owns a portfolio of consumer brands in the fashion, home, athletic and lifestyle categories. The Company’s portfolio of consumer brands includes Martha Stewart, Emeril Lagasse, Jessica Simpson, Joe’s Jeans, William Rast, Ellen Tracy, Revo, AND1 and Avia. The Company’s brands are licensed for a range of product categories, including apparel, footwear, eyewear, fashion accessories and home goods.

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