Birkenstock (NYSE:BIRK) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Birkenstock (NYSE:BIRK) posted its quarterly earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03, Zacks reports. Birkenstock had a net margin of 10.57% and a return on equity of 8.82%.

Birkenstock Stock Down 3.0 %

Shares of NYSE:BIRK traded down $1.63 during midday trading on Thursday, reaching $53.07. 1,900,386 shares of the company were exchanged, compared to its average volume of 1,490,078. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $57.59 and a two-hundred day simple moving average of $53.26. The firm has a market cap of $9.97 billion, a PE ratio of 49.09, a P/E/G ratio of 1.09 and a beta of 1.61.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BTIG Research raised their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Robert W. Baird raised their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. BMO Capital Markets increased their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

About Birkenstock

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.