Investors focus in on Elizabeth Arden shares
After a long financial struggle, Elizabeth Arden seems to have turned the corner, a fact that is attracting the investment world as shares continue to rally.
On 6November last year shares stood at $11.66, whereas on January 6, 2010, the share price had risen by nearly 23 percent to reach a value of $14.32.
Earlier on this week the shares reached oversold territory after hitting a high of $14.61, as analysts have repeatedly upped their estimates for full-year earnings on the back of an improving economy and better business prospects.
For its third quarter the company nudged back into the black as net income increased to $40k, compared to a loss of $12k in the corresponding period last year. Sales for the quarter were $265.2m, a 6.7 percent drop compared to the previous year.
