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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of men's clothing company Jos. A. Bank Clothiers (Nasdaq: JOSB ) fell 13% today after the company announced disappointing earnings.
So what: Revenue in the first quarter was $193.3 million, failing to meet the $195.4 million analysts expected. Earnings per share also fell short by $0.02 coming in at $0.64 per share.
Now what: Profit has been growing for five straight years, and today's stock drubbing after a 13% jump in profit seems a little excessive. Shares trade at just 12.8 times forward earnings estimates, a reasonable price considering the growth. I think this move is overdone today and shares will move higher as investors reanalyze how consistent the company's growth has been.
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