Deckers Outside Company DECK shares traded greater Friday after the corporate reported a year-over-year improve in second-quarter earnings per share and better-than-expected gross sales outcomes.
Deckers Outside launched its second-quarter monetary outcomes after the market closed on Thursday and reported quarterly earnings of $6.82 per share. This represents a 79% improve over earnings of $3.80 per share from the identical interval final yr.
The corporate additionally reported quarterly gross sales of $1.09 billion, beating the analyst consensus estimate of $960.51 million by greater than 13% and representing a practically 25% improve over gross sales of $875.61 million year-over-year.
Deckers Outside additionally raised its fiscal yr 2024 earnings per share steerage from $21.75-$22.25 to $22.90-$23.25 and its 2024 internet gross sales outlook from $3.98 billion to $4.025 billion.
On Friday, BTIG analyst Janine Stichter maintained Deckers Outside with a Purchase and raised the value goal from $640 to $650.
Shares of DECK moved greater Friday on heavy buying and selling quantity with greater than 1.833 million shares traded within the session.
In accordance with information from Benzinga Professional, the inventory’s 100-day common quantity is barely greater than 356 thousand shares.
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DECK Worth Motion: In accordance with Benzinga Professional, Deckers Outside shares closed up by 18.9% at $576.14.
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