Sturm Ruger & Company Down 2.03% To $43.06 After Earnings Miss

Sturm Ruger & Company (RGR) said after close Wednesday that it earned $0.58 per share in quarter four 2023.

On the revenue line, the company reported $130.6 million, missing estimates by $3.2 million.

In the same quarter a year ago, the company earned $1.06 per share on revenue of $149.2 million.

The stock is down 2.03% to $43.06 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Sturm Ruger & Company a Bullish Sentiment Rank from InvestorsObserver.

Sturm Ruger & Company has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 10, putting Sturm Ruger & Company in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $42.86 on February 7, 2024 and set a 52-week high on February 23, 2023 at $61.34.

Sturm Ruger & Co Inc and its subsidiary are principally engaged in the design, manufacture, and sale of firearms to domestic customers. The company's design and manufacturing operations are in the United States and almost all product content is domestic. The company primarily offers products in three industry product categories namely rifles, pistols, and revolvers. The company's firearms are sold through independent wholesale distributors, principally to the commercial sporting market. It also manufactures and sells investment castings made from steel alloys and metal injection molding parts for internal use in the firearms segment and has minimal sales to outside customers.