Q2 2023 Earnings Estimate for Deckers Outdoor Co. (NYSE:DECK) Issued By Telsey Advisory Group

Deckers Outdoor Co. (NYSE:DECKGet Rating) – Research analysts at Telsey Advisory Group reduced their Q2 2023 earnings per share (EPS) estimates for Deckers Outdoor in a report released on Friday, July 29th. Telsey Advisory Group analyst D. Telsey now forecasts that the textile maker will earn $3.77 per share for the quarter, down from their previous estimate of $3.87. Telsey Advisory Group has a “Outperform” rating and a $400.00 price target on the stock. The consensus estimate for Deckers Outdoor’s current full-year earnings is $18.00 per share. Telsey Advisory Group also issued estimates for Deckers Outdoor’s Q2 2024 earnings at $4.55 EPS, Q3 2024 earnings at $10.87 EPS, Q4 2024 earnings at $3.69 EPS and FY2024 earnings at $21.45 EPS.

Several other equities research analysts also recently issued reports on DECK. Cowen raised their price target on Deckers Outdoor from $407.00 to $415.00 in a report on Friday. Cowen increased their price objective on Deckers Outdoor from $407.00 to $415.00 in a research report on Friday. TheStreet cut Deckers Outdoor from a “b-” rating to a “c” rating in a research report on Thursday, June 2nd. Stifel Nicolaus raised their price target on Deckers Outdoor from $338.00 to $339.00 in a research report on Wednesday, July 20th. Finally, UBS Group raised their price target on Deckers Outdoor from $378.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $396.64.

Deckers Outdoor Trading Up 9.0 %

NYSE DECK opened at $313.21 on Monday. The company has a market cap of $8.31 billion, a PE ratio of 19.22 and a beta of 0.84. Deckers Outdoor has a 12 month low of $212.93 and a 12 month high of $451.49. The stock has a 50 day moving average of $267.44 and a 200-day moving average of $275.24.

Deckers Outdoor (NYSE:DECKGet Rating) last released its quarterly earnings data on Thursday, May 19th. The textile maker reported $2.51 EPS for the quarter, beating the consensus estimate of $1.35 by $1.16. The company had revenue of $736.00 million during the quarter, compared to the consensus estimate of $639.81 million. Deckers Outdoor had a return on equity of 30.20% and a net margin of 14.35%. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS.

Institutional Trading of Deckers Outdoor

A number of hedge funds have recently made changes to their positions in the company. National Bank of Canada FI boosted its stake in shares of Deckers Outdoor by 755.4% during the second quarter. National Bank of Canada FI now owns 1,420 shares of the textile maker’s stock valued at $363,000 after purchasing an additional 1,254 shares in the last quarter. CWM LLC boosted its stake in shares of Deckers Outdoor by 13.1% during the second quarter. CWM LLC now owns 97,460 shares of the textile maker’s stock valued at $24,886,000 after purchasing an additional 11,286 shares in the last quarter. Private Capital Group LLC boosted its stake in shares of Deckers Outdoor by 28.5% during the second quarter. Private Capital Group LLC now owns 690 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 153 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Deckers Outdoor by 18.5% during the second quarter. Park Avenue Securities LLC now owns 1,476 shares of the textile maker’s stock valued at $377,000 after purchasing an additional 230 shares in the last quarter. Finally, Mission Wealth Management LP boosted its stake in shares of Deckers Outdoor by 26.7% during the second quarter. Mission Wealth Management LP now owns 4,483 shares of the textile maker’s stock valued at $1,145,000 after purchasing an additional 945 shares in the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor announced that its Board of Directors has approved a share buyback plan on Thursday, July 28th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the textile maker to repurchase up to 14.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Deckers Outdoor Company Profile

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Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.

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Earnings History and Estimates for Deckers Outdoor (NYSE:DECK)

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