New York & Co. Hits New 52-Week High - Analyst Blog


Shutterstock photo

Shares of New York & Company, Inc. ( NWY ) soared to attain a new 52-week high of $6.35 on Jun 21, 2013, before closing at $6.22. This Zacks Rank #3 (Hold) stock has generated a year-to-date return of approximately 65.4%.

Based on the current price, this specialty retailer of women's fashion attire and accessories is approximately 18.5% above the Zacks Consensus average analyst price target of $5.25. The company currently trades at a forward P/E of 63.79x, a sharp premium to the peer group average of 18.09x.

New York & Co. has outperformed the Zacks Consensus Estimate for 5 straight quarters by an average of 60.8%. In the recent concluded quarter, the company beat the Zacks Estimate by 128.6%. The long-term expected earnings growth rate for this stock is 20%.

New York & Co. posted better-than-expected first-quarter fiscal 2013 bottom-line results on May 23, thereby causing the shares to consistently attain new highs. During the quarter, the company's earnings of 2 cents a share fared better than the Zacks Consensus Estimate's loss of 7 cents as well as the comparable year-ago quarter's break-even earnings on the back of improved margins and tax benefits related to the reversal of an uncertain tax position.

Net sales remained almost flat year over year at $227.5 million but exceeded the Zacks Consensus Estimate of $222 million. Gross profit for the quarter increased 2.8% to $66.3 million, whereas gross margin expanded 90 basis points to 29.2%, benefiting from increased markups from sourcing efficiencies and lower product costs.

New York & Company has been witnessing rising earnings estimates owing to impressive quarterly results. The Zacks Consensus Estimate for fiscal 2013 jumped to 10 cents a share from a loss of 3 cents in the last 60 days. For fiscal 2014, the Zacks Consensus Estimate surged to 24 cents from 9 cents over the same period.

Simultaneously, companies such as Zep Inc. ( ZEP ), GameStop Corp. ( GME ) and Cigna Corp. ( CI ) achieved new 52-week highs of $17.04, $41.53 and $71.40, respectively, on Jun 21.

CIGNA CORP (CI): Free Stock Analysis Report

GAMESTOP CORP (GME): Free Stock Analysis Report

NEW YORK & CO (NWY): Free Stock Analysis Report

ZEP INC (ZEP): Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

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

This article appears in: Investing , Business , Stocks
More Headlines for: CI , GME , NWY , ZEP

More from


Equity Research
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by