Tuesday Morning (NASDAQ:TUES) released its quarterly earnings results on Thursday. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.04, Morningstar.com reports. The company had revenue of $230.53 million during the quarter, compared to the consensus estimate of $228.66 million. Tuesday Morning had a negative return on equity of 5.89% and a negative net margin of 1.06%.
Shares of NASDAQ:TUES opened at $1.43 on Friday. The business has a 50 day moving average price of $1.58 and a 200 day moving average price of $1.92. Tuesday Morning has a twelve month low of $1.25 and a twelve month high of $3.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.16 and a current ratio of 2.00.
In other Tuesday Morning news, CEO Steven R. Becker bought 19,030 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $1.51 per share, for a total transaction of $28,735.30. Following the purchase, the chief executive officer now directly owns 1,630,325 shares in the company, valued at $2,461,790.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven R. Becker bought 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average price of $1.50 per share, with a total value of $45,000.00. Following the purchase, the chief executive officer now owns 1,640,325 shares in the company, valued at $2,460,487.50. The disclosure for this purchase can be found here. 7.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in TUES. Grace & White Inc. NY boosted its stake in Tuesday Morning by 29.5% during the 2nd quarter. Grace & White Inc. NY now owns 2,361,350 shares of the company’s stock valued at $3,991,000 after purchasing an additional 538,455 shares during the period. Marshall Wace LLP bought a new stake in Tuesday Morning during the 1st quarter valued at approximately $863,000. Renaissance Technologies LLC raised its holdings in Tuesday Morning by 43.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,254,587 shares of the company’s stock valued at $2,120,000 after acquiring an additional 380,811 shares in the last quarter. B. Riley Financial Inc. acquired a new position in Tuesday Morning in the 2nd quarter valued at approximately $505,000. Finally, US Bancorp DE raised its holdings in Tuesday Morning by 161.8% in the 2nd quarter. US Bancorp DE now owns 473,169 shares of the company’s stock valued at $800,000 after acquiring an additional 292,463 shares in the last quarter. Hedge funds and other institutional investors own 65.18% of the company’s stock.
Several analysts have recently issued reports on the company. ValuEngine upgraded Tuesday Morning from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Lake Street Capital started coverage on Tuesday Morning in a research note on Friday, June 7th. They set a “buy” rating and a $4.00 target price for the company. Finally, Zacks Investment Research upgraded Tuesday Morning from a “sell” rating to a “hold” rating in a research note on Friday, July 5th.
Tuesday Morning Company Profile
Tuesday Morning Corporation operates as an off-price retailer in the United States. The company offers various products, such as upscale home textiles, home furnishings, housewares, gourmet food products, toys, and seasonal décor products. As of September 30, 2018, it operated approximately 719 stores in 40 states.
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