HHGregg Reports 66 Cent EPS (HGG)

Indianapolis, Indiana-based hhGregg, Inc. HGG released financial results on Tuesday morning. hhGregg, Inc. HGG announced that its 3rd quarter net income rose to $26.9 million, or 66 cents per share, up from $22.7 million, or 57 cents per share, a year earlier. hhGregg, Inc reported revenue of $653.73 million, up from $500.39 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 65 cents per share, on revenue of $654.68 million. President and Chief Executive Officer Dennis May said, “Despite softer than originally expected industry holiday sales, we are pleased with the manner in which the Company navigated through the environment while growing bottom-line earnings. We continue to be pleased with our new store sales productivity and our team's execution in both new and existing markets." hhGregg, Inc finished the previous trading day at $18.67 per share. The consensus price target of analysts covering the company's stock is $24.64 per share. hhGregg, Inc is a specialty retailer of consumer electronics, home appliances and related services operating under the name hhgregg. Read more from Benzinga's Company news.