Wall Street analysts predict that Cherokee Inc. (NASDAQ:CHKE) will post $9.39 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cherokee’s earnings. The highest sales estimate is $9.90 million and the lowest is $8.88 million. Cherokee reported sales of $6.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 44.5%. The company is scheduled to report its next quarterly earnings results on Thursday, December 14th.
On average, analysts expect that Cherokee will report full year sales of $9.39 million for the current financial year, with estimates ranging from $35.75 million to $39.10 million. For the next fiscal year, analysts anticipate that the firm will report sales of $43.29 million per share, with estimates ranging from $40.47 million to $46.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Cherokee.
Cherokee (NASDAQ:CHKE) last posted its quarterly earnings data on Thursday, September 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.06). The firm had revenue of $14.00 million for the quarter, compared to the consensus estimate of $7.81 million. Cherokee had a positive return on equity of 1.52% and a negative net margin of 42.78%. Cherokee’s quarterly revenue was up 64.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share.
A number of brokerages recently weighed in on CHKE. Roth Capital lowered their target price on shares of Cherokee from $10.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, September 28th. FBR & Co restated a “buy” rating and set a $8.00 target price on shares of Cherokee in a report on Wednesday, September 6th. Finally, Zacks Investment Research downgraded shares of Cherokee from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Cherokee has an average rating of “Hold” and a consensus target price of $7.19.
A number of hedge funds have recently added to or reduced their stakes in the business. Martin & Co. Inc. TN boosted its position in Cherokee by 1.3% during the second quarter. Martin & Co. Inc. TN now owns 60,355 shares of the company’s stock worth $419,000 after purchasing an additional 800 shares during the period. HCSF Management LLC boosted its position in Cherokee by 5.9% during the second quarter. HCSF Management LLC now owns 1,654,397 shares of the company’s stock worth $11,498,000 after purchasing an additional 91,780 shares during the period. Punch & Associates Investment Management Inc. boosted its position in Cherokee by 2.5% during the second quarter. Punch & Associates Investment Management Inc. now owns 314,050 shares of the company’s stock worth $2,183,000 after purchasing an additional 7,700 shares during the period. Dimensional Fund Advisors LP boosted its position in Cherokee by 23.9% during the second quarter. Dimensional Fund Advisors LP now owns 353,238 shares of the company’s stock worth $2,455,000 after purchasing an additional 68,198 shares during the period. Finally, Connors Investor Services Inc. boosted its position in Cherokee by 49.5% during the second quarter. Connors Investor Services Inc. now owns 220,646 shares of the company’s stock worth $1,533,000 after purchasing an additional 73,052 shares during the period. 72.50% of the stock is owned by hedge funds and other institutional investors.
Cherokee (CHKE) traded up 1.064% during mid-day trading on Wednesday, hitting $2.375. 19,390 shares of the company traded hands. The company’s 50-day moving average is $3.35 and its 200-day moving average is $6.12. The stock’s market capitalization is $33.13 million. Cherokee has a one year low of $2.10 and a one year high of $11.75.
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Cherokee Company Profile
Cherokee Inc is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors.
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