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Guess? Stock Rises 12% After Earnings Beat and Dividend Increase -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Guess? Inc (NYSE:)Inc stock surged more than 12 percent after the company reported top and low-line growth on Tuesday night’s third quarter earnings report.

Guess posted earnings per share (EPS) of $0.62 on $643.07million in revenue. The analysts polled by Investing.comFor $611.3 Million in revenue, the anticipated earnings per share (EPS) is $0.45

The company announced that it will double the quarterly dividend of American brand clothing retailer American Fashion Brands from 11.25 cents to 22.5 cents. This is an encouraging move for shareholders.

Guess shares are currently at $23.94, up 12.39% from the previous day’s high of $24.64.

It posted a Q3 beat, however, the company said that its Q4 revenue is expected to drop in the single- to mid-digits, in part due to permanent store closings. According to consensus, Q4 revenue is estimated at $2.55 billion.

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