Ermenegildo Zegna (NYSE:ZGN) Announces Earnings Results, Misses Estimates By $0.12 EPS

Ermenegildo Zegna (NYSE:ZGN) announced its quarterly earnings data on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12), FiscalAI reports. The business had revenue of $563.39 million for the quarter, compared to the consensus estimate of $1.13 billion.

Ermenegildo Zegna Price Performance

Shares of NYSE ZGN opened at $12.56 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. The company’s 50-day moving average price is $13.86 and its 200 day moving average price is $12.70. Ermenegildo Zegna has a 52 week low of $8.23 and a 52 week high of $15.95.

Institutional Trading of Ermenegildo Zegna

Institutional investors and hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Ermenegildo Zegna by 74.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company’s stock valued at $42,822,000 after purchasing an additional 1,785,266 shares during the last quarter. Millennium Management LLC lifted its stake in Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after buying an additional 742,680 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Ermenegildo Zegna in the 2nd quarter valued at approximately $6,245,000. QVIDTVM Management LLC lifted its stake in Ermenegildo Zegna by 33,892.4% in the 4th quarter. QVIDTVM Management LLC now owns 475,893 shares of the company’s stock valued at $4,878,000 after buying an additional 474,493 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Ermenegildo Zegna by 931.8% during the 2nd quarter. Sei Investments Co. now owns 400,630 shares of the company’s stock valued at $3,425,000 after buying an additional 361,802 shares during the last quarter. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZGN. BNP Paribas Exane cut shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 target price for the company. in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. The Goldman Sachs Group cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and increased their price target for the stock from $13.30 to $14.00 in a report on Wednesday, June 17th. Weiss Ratings upgraded shares of Ermenegildo Zegna from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.13.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.