Needham & Company Raises Big 5 Sporting Goods (BGFV) PT to $20 on Bullish Outlook
Tweet Send to a FriendGet Alerts BGFV Hot Sheet
Price: $20.47 -4.21%
Rating Summary:
3 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Rating Summary:
3 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Trade BGFV Now!
Needham & Company raised its price target on Strong Buy-rated Big 5 Sporting Goods (NASDAQ: BGFV) from $17 to $20 following strong Q4 results and bullish Q1 guidance.
The firm comments, "e company expects 1Q SSS to grow in the high single digits with EPS of $0.18-$0.24, both of which were well above consensus expectations. Management cited continued strength in firearms and ammunition sales, as well as YoY improvements in winter weather as major drivers of improvement. As announced in mid-January, 4Q sales rose 7.5% YoY to $243.6mm and SSS grew 6.5%. EPS were $0.19, which was at the high end of management’s updated guidance ($0.17-$0.19). GMs increased 100 bps YoY to 32.2% of sales due to a 20bps improvement in merchandise margin, with the remaining increase coming from increased occupancy leverage. SG&A expenses decreased 210 bps YoY to 29.2% of sales but featured a $1.5mm non-cash charge in 4Q11. Management announced a 33.3% increase in quarterly dividends; the annual dividend is now $0.40 per share. 1Q EPS guidance is $0.10 above our prior estimate, and we are raising our 2013 full year EPS estimate by $0.10 to $1.20. Our 2014 EPS estimate remains $1.40, and we are introducing a 2015 EPS estimate of $1.65."
For an analyst ratings summary and ratings history on Big 5 Sporting Goods click here. For more ratings news on Big 5 Sporting Goods click here.
Shares of Big 5 Sporting Goods closed at $15.15 yesterday, with a 52 week range of $6.12-$15.54.
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
The firm comments, "e company expects 1Q SSS to grow in the high single digits with EPS of $0.18-$0.24, both of which were well above consensus expectations. Management cited continued strength in firearms and ammunition sales, as well as YoY improvements in winter weather as major drivers of improvement. As announced in mid-January, 4Q sales rose 7.5% YoY to $243.6mm and SSS grew 6.5%. EPS were $0.19, which was at the high end of management’s updated guidance ($0.17-$0.19). GMs increased 100 bps YoY to 32.2% of sales due to a 20bps improvement in merchandise margin, with the remaining increase coming from increased occupancy leverage. SG&A expenses decreased 210 bps YoY to 29.2% of sales but featured a $1.5mm non-cash charge in 4Q11. Management announced a 33.3% increase in quarterly dividends; the annual dividend is now $0.40 per share. 1Q EPS guidance is $0.10 above our prior estimate, and we are raising our 2013 full year EPS estimate by $0.10 to $1.20. Our 2014 EPS estimate remains $1.40, and we are introducing a 2015 EPS estimate of $1.65."
For an analyst ratings summary and ratings history on Big 5 Sporting Goods click here. For more ratings news on Big 5 Sporting Goods click here.
Shares of Big 5 Sporting Goods closed at $15.15 yesterday, with a 52 week range of $6.12-$15.54.
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
- UPDATE: Wedbush Downgrades XenoPort (XNPT) to Neutral
- Goldman Sachs Upgrades Abbott Labs (ABT) to Buy
- Wells Fargo Starts Taylor Morrison Home (TMHC) at Outperform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Needham & Company, Dividend
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!
