CSS Industries Inc (NYSE:CSS) – DA Davidson decreased their Q3 2019 earnings per share (EPS) estimates for shares of CSS Industries in a research note issued to investors on Wednesday, November 7th. DA Davidson analyst L. Weiser now forecasts that the specialty retailer will earn $1.61 per share for the quarter, down from their prior forecast of $1.76. DA Davidson also issued estimates for CSS Industries’ FY2019 earnings at $0.38 EPS, Q1 2020 earnings at ($0.84) EPS, Q2 2020 earnings at $0.37 EPS, Q3 2020 earnings at $1.66 EPS, Q4 2020 earnings at ($0.23) EPS, FY2020 earnings at $0.96 EPS and FY2021 earnings at $0.94 EPS.
Separately, Zacks Investment Research raised shares of CSS Industries from a “strong sell” rating to a “hold” rating in a report on Monday, August 6th.
CSS Industries stock opened at $12.55 on Friday. CSS Industries has a 12-month low of $12.52 and a 12-month high of $29.34. The company has a current ratio of 2.43, a quick ratio of 1.60 and a debt-to-equity ratio of 0.18.
CSS Industries (NYSE:CSS) last released its earnings results on Thursday, November 8th. The specialty retailer reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). The firm had revenue of $112.90 million during the quarter, compared to analysts’ expectations of $113.10 million. CSS Industries had a negative return on equity of 0.04% and a negative net margin of 14.35%.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.20 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.80 annualized dividend and a yield of 6.37%. CSS Industries’s payout ratio is 72.73%.
In other CSS Industries news, CEO Christopher J. Munyan purchased 2,000 shares of the company’s stock in a transaction on Friday, September 14th. The stock was acquired at an average cost of $13.85 per share, for a total transaction of $27,700.00. Following the purchase, the chief executive officer now directly owns 84,208 shares of the company’s stock, valued at approximately $1,166,280.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CSS. BlackRock Inc. boosted its stake in CSS Industries by 0.6% in the 1st quarter. BlackRock Inc. now owns 591,556 shares of the specialty retailer’s stock worth $10,352,000 after purchasing an additional 3,569 shares during the period. JPMorgan Chase & Co. boosted its stake in CSS Industries by 2,016.3% in the 1st quarter. JPMorgan Chase & Co. now owns 40,738 shares of the specialty retailer’s stock worth $712,000 after purchasing an additional 38,813 shares during the period. Russell Investments Group Ltd. boosted its stake in CSS Industries by 21.3% in the 1st quarter. Russell Investments Group Ltd. now owns 64,114 shares of the specialty retailer’s stock worth $1,123,000 after purchasing an additional 11,241 shares during the period. Millennium Management LLC bought a new position in CSS Industries in the 1st quarter worth approximately $1,185,000. Finally, Marquette Asset Management LLC bought a new position in CSS Industries in the 2nd quarter worth approximately $455,000. Institutional investors and hedge funds own 73.43% of the company’s stock.
About CSS Industries
CSS Industries, Inc, a consumer products company, designs, manufactures, procures, distributes, and sells seasonal, gift, and craft products principally to mass market retailers in the United States and Canada. Its craft and gift consumer products include craft ribbons and bows, trims, buttons, sewing patterns, knitting needles, needle arts, kids' crafts, infant products, journals, gift card holders, all occasion boxed greeting cards, memory books, scrapbooks, stationery, stickers, and other gift and craft items, as well as floral accessories, including pot covers, foil, waxed tissue, shred, aisle runners, corsage bags, and other paper and film products.
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