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hhgregg Earnings Review: 16 Days after Announcement Shares Up 13.4% (HGG)

Published on Sat, 02/16/2013 - 09:19
By Mallory Stone

Two weeks ago on January 31st, 2013 hhgregg (NYSE:HGG) reported earnings and analysts, on average, expected earnings of $0.51 on sales of $803.9 million. The company actually reported EPS of $0.52 on sales of $799.6 million, beating EPS estimates by $0.01 and missing revenue estimates by $4.2 million. Since the company's report, shares of hhgregg have risen from $8.48 to $9.62, representing a gain of 13.4% in the past 16 days.

hhgregg (NYSE:HGG) is currently priced 17.1% above its average consensus analyst price target of $7.97. The stock should find initial support at its 200-day moving average (MA) of $8.26 and further support at its 50-day MA of $7.98.

hhgregg, Inc. retails video products, brand name appliances, audio products and accessories.

In the past 52 weeks, hhgregg share prices have been bracketed by a low of $5.84 and a high of $13.12 and closed Thursday at $9.62, 65% above that low price. The 200-day and 50-day moving averages have moved 0.24% lower and 3.05% higher over the past week, respectively.

By Mallory Stone
mstone@fnno.com

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