Williams-Sonoma (WSM): Earning Meet But FY Guide Down - Piper Jaffray
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Piper Jaffray analyst, Neely Tamminga, reiterated her Neutral rating on shares of Williams-Sonoma (NYSE: WSM) after earnings of $0.58 came in-line with consensus expectations for FQ2, but management reduced their outlook for the balance of the year. For WSM, comps came in below expectations and gross margins declined y/y. The company cited concerns that spending from their customer base is softening which led to management reducing their outlook for the full-year by $0.10 to $0.15 or 3% to 4% off the mid-point of the range.
The price target of $56 drops from $60 on 7x FY18E EV/EBITDA.
Shares of Williams-Sonoma closed at $54.14 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesPiper Jaffray, Earnings, Neely Tamminga
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