Deckers Outdoor (NYSE:DECK) Issues FY 2023 Earnings Guidance

Deckers Outdoor (NYSE:DECKGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $17.40-$18.25 for the period, compared to the consensus EPS estimate of $18.34. The company issued revenue guidance of $3.45 billion-$3.50 billion, compared to the consensus revenue estimate of $3.45 billion.

NYSE DECK traded down $0.50 on Thursday, reaching $226.79. The company had a trading volume of 1,081,304 shares, compared to its average volume of 431,505. The stock’s 50 day moving average is $267.06 and its 200-day moving average is $320.73. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 17.55 and a beta of 0.84. Deckers Outdoor has a 52 week low of $212.93 and a 52 week high of $451.49.

A number of equities research analysts recently commented on DECK shares. StockNews.com started coverage on Deckers Outdoor in a report on Thursday, March 31st. They issued a hold rating for the company. Jefferies Financial Group decreased their target price on Deckers Outdoor from $525.00 to $450.00 and set a buy rating for the company in a research note on Friday, February 4th. Cowen decreased their target price on Deckers Outdoor from $478.00 to $358.00 and set an outperform rating for the company in a research note on Friday, February 4th. Telsey Advisory Group decreased their target price on Deckers Outdoor from $475.00 to $450.00 and set an outperform rating for the company in a research note on Friday, February 4th. Finally, BTIG Research boosted their target price on Deckers Outdoor from $480.00 to $487.00 and gave the company a buy rating in a research note on Friday, February 4th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Deckers Outdoor currently has a consensus rating of Buy and a consensus price target of $445.30.

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in Deckers Outdoor by 18.0% during the 1st quarter. Wellington Management Group LLP now owns 433,426 shares of the textile maker’s stock worth $118,658,000 after acquiring an additional 66,072 shares during the period. Morgan Stanley boosted its holdings in shares of Deckers Outdoor by 62.8% in the 2nd quarter. Morgan Stanley now owns 122,378 shares of the textile maker’s stock valued at $47,002,000 after purchasing an additional 47,223 shares in the last quarter. State Street Corp boosted its holdings in shares of Deckers Outdoor by 2.3% during the 1st quarter. State Street Corp now owns 720,033 shares of the textile maker’s stock valued at $197,123,000 after acquiring an additional 16,529 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Deckers Outdoor during the 1st quarter valued at $4,271,000. Finally, Sei Investments Co. boosted its holdings in shares of Deckers Outdoor by 53.1% during the 1st quarter. Sei Investments Co. now owns 35,845 shares of the textile maker’s stock valued at $9,811,000 after acquiring an additional 12,439 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

About Deckers Outdoor (Get Rating)

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.

Further Reading

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

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