The Pep Boys – Manny, Moe & Jack (NYSE:PBY) recently announced its financial results for the 3rd quarter in reaction to which investors have remained mixed about the Philadelphia based automotive repair services provider.
The company announced the net profit of $53.6 million or earnings of $0.13 per share for the third quarter as compared to net income of $53.2 million or earnings of $0.11 per share for the same period last year. The company’s revenue increased 5.2 percent to $522.2 million for the respective quarter as compared to $496.4 million last year.
The latest results surpassed all the analysts’ expectations which on average were expecting revenue of $521.1 million with earnings of $0.11 per share. The share price of Pep boy jumped 1.1 percent in session yesterday however today declined 5.65 percent to close at $11.19 with trading volume of 1.03 million shares.
Pep Boys maintains the average volume of 0.51 million shares per day which shows that investors overall were not moved by the financial results and were expecting much better figures.
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