Consumer Stocks Ending Mostly In The Black; Bob Evans Sidesteps Weak Q1 Results After Boosting Dividend, Stock Buyback

By
A A A

Top Consumer Stocks,

WMT -0.39%

MCD +0.21%


DIS +0.45%

CVS +1.69%

KO -0.03%

Consumer stocks are ending mostly higher today with shares of consumer staple companies in the S&P 500 climbing about 0.2%. Shares of consumer discretionary stocks in the S&P are up nearly 1.1%.

In company news, Bob Evans ( BOBE ) is up more than 9% at $52.01 a share, earlier climbing to within 10 cents of its 52-week high at $52.38 after raising its quarterly dividend to $0.31 per share and increased its share repurchase program by another $150 million to a total of $175 million in FY14.

The bigger dividend and expanded stock buybacks appear to be overcoming any drag the restaurant chain's lackluster Q1 results, including a 19.6% decline in net sales from the same quarter last year to $329.4 million, also trailing the Street consensus by $7.89 million.

EPS for the quarter was $0.58, in line with analyst expectations. BOBE also reaffirmed its FY14 earnings guidance of $2.60 to $2.67 per share, lagging analyst estimates by at least $0.03 per share.

In other sector news,

(+) URBN, Q2 EPS of $0.51 top Street view by $0.03 per share. Net sales rise 12% over last year to $758 mln, coming within $10 mln of estimates.

(-) LITB, Q2 net sales jump 53% year over year to $72.2 mln but lag expectations by $3.6 mln. Adjusted EPS of $0.10 beat by $0.24 per ADS. Sees Q3 revenue of $68 mln to $70 mln, falling at least $8.5 mln below estimates.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: BOBE

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Avatars of the Luxe Life
Avatars of the Luxe Life            

Stocks

Referenced

Most Active by Volume

89,070,840
  • $17.26 ▲ 3.23%
78,931,485
  • $7.02 ▲ 4.46%
77,555,734
  • $6.70 ▲ 6.69%
77,025,346
  • $24.66 ▲ 0.69%
74,713,335
  • $101.80 ▲ 1.82%
72,324,726
  • $7.64 ▲ 0.79%
57,112,188
  • $17.84 ▲ 55.27%
53,321,397
  • $18.01 ▼ 4.46%
As of 12/17/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com