Elizabeth Arden Hits 52-Week High (RDEN)

Shares of Elizabeth Arden, Inc. RDEN are currently up 9.9% at $22.95 per share during Thursday afternoon trading. Today's trading range for shares of Elizabeth Arden, Inc has been between $19.83 and a 52-week high of $23.25 per share. The consensus price target of analysts covering the company's stock is $22.40 per share. Volume of 149,000 shares is already above the daily average volume of 129,000 shares. Elizabeth Arden, Inc. (RDEN) released financial results early Thursday morning that exceeded Wall Street estimates. Elizabeth Arden, Inc reported 1st quarter adjusted earnings of 18 cents per share, on revenue of $284.82 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 13 cents per share, on revenue of $277.44 million. The company forecast 2nd quarter net income of 90 cents to $1.00 per share, on revenue in the range of $393 million to $403 million. Elizabeth Arden's chairman, president and chief executive officer E. Scott Beattie said, "Through the first quarter, our business overall performed as we expected. Sales and earnings results were ahead of prior guidance, driven primarily by continued strong momentum in our international business. In constant currencies, net sales of our international business increased by 14%, with sales in Europe and our travel retail and distributor markets increasing by 14% and 31%, respectfully. Our net sales in North America rose by 6%." Read more from Benzinga's Company news.