Oppenheimer Note Whole Foods Market (WFM) FY17 Buyside Expectations are Below the Street

November 1, 2016 10:10 AM EDT
Get Alerts WFM Hot Sheet
Price: $30.76 -0.49%

Rating Summary:
    8 Buy, 21 Hold, 10 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
Trade WFM Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Oppenheimer analyst Rupesh Parikh reiterated his Outperform rating and $35 price target on Whole Foods Market (NASDAQ: WFM) ahead of results tomorrow (11/2). Parikh commented on underlying expectations for FY17 guidance.

Parikh commented, "Following our preview last week on WFM, we have been getting questions on what the true underlying expectations are for FY17 (Sept. 2017) EPS guidance. We are in print at $1.25, below a Street figure of $1.47. In our investor conversations, underlying buyside expectations appear to be in the $1.30 vicinity. Within our $1.25 forecast, we assume a low single digit comp decline, a new round of value initiatives, and a reinvestment of a portion of SG&A savings in areas such as marketing to support an eventual national launch of the affinity program. There remains a healthy debate regarding the magnitude of P&L investments that the WFM management team is willing to take with a now more challenging backdrop characterized by almost no comp growth."

For an analyst ratings summary and ratings history on Whole Foods Market click here. For more ratings news on Whole Foods Market click here.

Shares of Whole Foods Market closed at $28.29 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS View

Add Your Comment