Benchmark Q2 Preview on Perry Ellis (PERY): Raising PT As Improved Products Hit Store Shelves
Tweet Send to a FriendGet Alerts PERY Hot Sheet
Price: $19.41 +2.70%
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade PERY Now!
Benchmark maintains a 'Buy' on Perry Ellis (NASDAQ: PERY) price target of $26.00 (from $22.00).
Analyst, Ronald Bookbinder, said, "While we do not expect Perry Ellis to report 2Q13 until mid-August and its quarter does not end until the end of July, we believe new and improved Rafaella and Perry Ellis product is beginning to show up in stores. We believe there could be upside potential in the back half of FY13 from turning around the Rafaella and Perry Ellis lines, along with the current momentum in dresses and golf combined with product cost reductions from cheaper cotton."
Bookbinder maintains his Q2 EPS estimate at $0.02 (ex-$0.05 charge) on revenues of $204 million. FY13 EPS estimate at $2.00 (ex-$0.10 charge) and sees revenues increasing low single digits.
For an analyst ratings summary and ratings history on Perry Ellis click here. For more ratings news on Perry Ellis click here.
Shares of Perry Ellis closed at $20.99 yesterday, with a 52 week range of $12.22-$26.74.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Ronald Bookbinder, said, "While we do not expect Perry Ellis to report 2Q13 until mid-August and its quarter does not end until the end of July, we believe new and improved Rafaella and Perry Ellis product is beginning to show up in stores. We believe there could be upside potential in the back half of FY13 from turning around the Rafaella and Perry Ellis lines, along with the current momentum in dresses and golf combined with product cost reductions from cheaper cotton."
Bookbinder maintains his Q2 EPS estimate at $0.02 (ex-$0.05 charge) on revenues of $204 million. FY13 EPS estimate at $2.00 (ex-$0.10 charge) and sees revenues increasing low single digits.
For an analyst ratings summary and ratings history on Perry Ellis click here. For more ratings news on Perry Ellis click here.
Shares of Perry Ellis closed at $20.99 yesterday, with a 52 week range of $12.22-$26.74.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- Compass Point Boosts Numbers on RLJ Lodging Trust (RLJ)
- Goldman Sees Blockbuster Potential for Bristol-Myers Squibb's (BMY) Nivolumab (PD-1)
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
