Men’s Wearhouse (NYSE:MW) Third Quarter Profit Hikes but Misses Analysts Forecasts

The Men’s Wearhouse, Inc (NYSE:MW) reported on Wednesday after the markets closed that its Q3 profit moved up 22% from previous year mainly assisted by strong sales and higher margins. But the financial results of the company came in below analysts’ forecasts.

The Houston, Texas-based company lowers its Q4 and full year guidance, mentioning lower than anticipated retail clothing sales in November and a more cautious forecasts for the remainder of the fiscal year.

The men’s apparel retailer announced net income of $48.8 million or $0.95 a share for the Q3 finished October 27, 2012, evaluated against $39.9 million or $0.77 a share for similar period previous year.

Thomson Reuters 6 analyst’s survey on average anticipated the company to earn $0.97 a share for the Q3.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) fell -0.67% to settle at $43.00, Express, Inc. (NYSE:EXPR) moved down -0.42% to end at $14.29 while rue21, inc. (NASDAQ:RUE) dropped -1.42% to finish at $29.12 on Wednesday.

The Men’s Wearhouse, Inc. (NYSE:MW) on Dec 05, 2012 decreased -3.15% to the closing price of $31.35. The overall volume in the last trading session was 1.40 million shares. Its fifty two weeks range was $25.97 – $40.97. The total market capitalization remained at $1.59 billion.

MW is ahead of its 52-week low with 21.27% and lagging behind from its 52-week high price with -22.26%. MW’s last month’s stock price volatility remained 3.16%. In its share capital MW has 50.73 million outstanding shares, among them 47.97 million shares have been floated in market exchange. MW’s stock’s institutional ownership remained 98.78% while insider ownership included 1.04%.

The stock price of MW is moving down from its 20 days moving average with -3.64% and remote negatively from 50 days moving average with -5.60%. MW’s current year’s earnings per share experienced an addition with 81.59% while its current quarter performance remained at -0.06%. Company’s beta coefficient included 1.54. Beta factors measure the amount of market risk associated with market trade.

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