Why Designer Brands Inc (NYSE: DBI) Stock Shouldn’t Be Ignored In 2024

In the last trading session, 1.34 million shares of the Designer Brands Inc (NYSE:DBI) were traded, and its beta was 2.06. Most recently the company’s share price was $10.93, and it changed around $0.31 or 2.92% from the last close, which brings the market valuation of the company to $621.48M. DBI currently trades at a discount to its 52-week high of $13.44, offering almost -22.96% off that amount. The share price’s 52-week low was $6.14, which indicates that the current value has risen by an impressive 43.82% since then. We note from Designer Brands Inc’s average daily trading volume that its 10-day average is 2.22 million shares, with the 3-month average coming to 1.34 million.

Designer Brands Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 4 recommended DBI as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Designer Brands Inc is expected to report earnings per share of $0.15 for the current quarter.

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Designer Brands Inc (NYSE:DBI) trade information

Instantly DBI has showed a green trend with a performance of 2.92% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 23.50% year-to-date, but still up 0.37% over the last five days. On the other hand, Designer Brands Inc (NYSE:DBI) is 7.90% up in the 30-day period. We can see from the shorts that 10.02 million shares have been sold at a short interest cover period of 7.7 day(s).

The consensus price target as assigned by Wall Street analysts is $17, which translates to bulls needing to increase their stock price by 35.71% from its current value. Analyst projections state that DBI is forecast to be at a low of $14 and a high of $20.

Designer Brands Inc (DBI) estimates and forecasts

Designer Brands Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -9.59 percent over the past six months and at a 13.24% annual growth rate that is well above the industry average of 6.70%. The year-over-year growth rate is expected to be 1.30%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $739.29 million in revenue for the current quarter. 3 analysts expect Designer Brands Inc to make $805.32 million in revenue for the quarter ending Jul 2024.

Designer Brands Inc earnings are expected to increase by 13.23% in 2024, but the outlook is positive 14.68% per year for the next five years.

DBI Dividends

Designer Brands Inc’s next quarterly earnings report is expected to be released around June 06 and June 10. The annual dividend yield of the stock is 2.29 percent and its annual dividend per share was 0.25. It is important to note, however, that the 2.29% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Designer Brands Inc (NYSE:DBI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 18.09% of Designer Brands Inc shares, and 104.67% of them are in the hands of institutional investors. The stock currently has a share float of 127.79%. Designer Brands Inc stock is held by 266 institutions, with Pacer Advisors, Inc. being the largest institutional investor. By Dec 30, 2023, it held 16.79% of the shares, which is about 8.31 million shares worth $90.86 million.

Blackrock Inc., with 14.54% or 7.2 million shares worth $78.69 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Pacer Small Cap U.S. Cash Cows 100 ETF and iShares Core S&P Smallcap ETF were the top two Mutual Funds as of Jan 30, 2024. The former held 9.73 million shares worth $106.34 million, making up 19.65% of all outstanding shares. On the other hand, iShares Core S&P Smallcap ETF held roughly 3.0 million shares worth around $32.79 million, which represents about 6.06% of the total shares outstanding.