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Published: Mon, September 25, 2017
Economy | By Melissa Porter

The Finish Line, Inc. (NASDAQ:FINL) Price Target Cut to $10.00

The Finish Line, Inc. (NASDAQ:FINL) Price Target Cut to $10.00

I suppose it's encouraging that The Finish Line's Q2 earnings arrived at the high end of its admittedly disappointing guidance, but little has changed regarding its current situation operating in the hard athletic footwear retail space. The 52-week range is $6.90 to $24.50. (FINL) opened at 9.73 on Friday. LTEA's distance from 20 day simple moving average is -26.27% and distance from 50-Day simple moving average is -38.78%. As of 9:45 a.m. Finish Line shares began to reverse those losses, climbing 0.9 percent, to $9.80. Company fiscal year is ending in February and analysts' consensus recommendation is Hold for FINL and estimated EPS for next quarter is $ -0.35. The Finish Line had a negative net margin of 1.05% and a positive return on equity of 8.97%. The company had revenue of $469.40 million for the quarter, compared to the consensus estimate of $478.25 million. The specialty retailer posted $0.23 EPS for the period, hitting the average forecast of $0.23.

"Our second quarter results were shaped by a very promotional marketplace for athletic footwear", said Sam Sato, chief executive officer of Finish Line. Research firm Zacks lifted Finish Line from a "sell" recommendation to a "hold" recommendation in a study on Tue, Jun 13th. Investors of record on Friday, August 25th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wed, Aug 23rd. this indicates a $0.44 dividend on a yearly basis and a payout of of 4.24%. The Finish Line's dividend payout ratio is now -89.80%.

Nonetheless, Finish Line shares are still reeling from that preliminary announcement, which sent the stock down almost 20% in a single day. FBR & Co reiterated a buy rating and issued a $22.00 price objective on shares of The Finish Line in a report on Tuesday, June 27th.

Finish Line reported a comparable sales decline - concerning to analysts and investors - of 4.5 percent during the second quarter. Finally, Wedbush reiterated a neutral rating and set a $15.00 target price on shares of The Finish Line in a report on Friday, June 16th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company's stock. Bank of America Corporation restated a neutral rating and issued a $14.00 price target (down from $16.00) on shares of The Finish Line in a research note on Monday, June 26th.

Looking ahead, Finish Line maintained its full year outlook, announced in August and called for a soft third-quarter performance. (NASDAQ:FINL)'s market cap, the total dollar value of all of their outstanding shares, is 379.86m. Following the sale, the chief operating officer now directly owns 11,862 shares in the company, valued at approximately $269,386.02. The disclosure for this sale can be found here. The correct version of this news story can be accessed at https://www.truebluetribune.com/2017/09/22/finish-line-inc-finl-price-target-cut-to-10-00.html.

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