UBS Maintains a 'Sell' on SAFEWAY (SWY) Heading Into Q2 Earnings
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Price: $23.56 -1.59%
Rating Summary:
4 Buy, 8 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
4 Buy, 8 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade SWY Now!
UBS maintains a 'Sell' on SAFEWAY (NYSE: SWY) price target of $17.00.
Analyst, Jason DeRise, keeps his Sell rating ahead of SWY's Q2 earnings report, which is due out July, 19, 2012. The current Wall Street consensus estimate is EPS of $0.49 and revenues of $10.37B. In a previous note, DeRise said many of the large food retailers (including Kroger (NYSE: KR), Supervalu (NYSE: SVU), Wal-Mart (NYSE: WMT), etc) are fighting for market share and gross margins may suffer in order to keep customers coming in.
The 52-week trading range for Safeway is $15.93 - 24.28, and the stock is hovering at the low end, $17.61 today (down $0.13 or -0.73%).
UBS also has a 'Sell' rating on SVU, a 'Neutral' on KR, and 'Buys' on Whole Foods (NYSE: WFM), Harris Teeter (Nasdaq: HTSI) and The Fresh Market (NYSE: TFM)
For an analyst ratings summary and ratings history on SAFEWAY click here. For more ratings news on SAFEWAY click here.
Shares of SAFEWAY closed at $17.74 yesterday, with a 52 week range of $15.93-$24.28.
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Analyst, Jason DeRise, keeps his Sell rating ahead of SWY's Q2 earnings report, which is due out July, 19, 2012. The current Wall Street consensus estimate is EPS of $0.49 and revenues of $10.37B. In a previous note, DeRise said many of the large food retailers (including Kroger (NYSE: KR), Supervalu (NYSE: SVU), Wal-Mart (NYSE: WMT), etc) are fighting for market share and gross margins may suffer in order to keep customers coming in.
The 52-week trading range for Safeway is $15.93 - 24.28, and the stock is hovering at the low end, $17.61 today (down $0.13 or -0.73%).
UBS also has a 'Sell' rating on SVU, a 'Neutral' on KR, and 'Buys' on Whole Foods (NYSE: WFM), Harris Teeter (Nasdaq: HTSI) and The Fresh Market (NYSE: TFM)
For an analyst ratings summary and ratings history on SAFEWAY click here. For more ratings news on SAFEWAY click here.
Shares of SAFEWAY closed at $17.74 yesterday, with a 52 week range of $15.93-$24.28.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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