Williams-Sonoma (WSM): Earning Meet But FY Guide Down - Piper Jaffray

August 25, 2016 7:45 AM EDT
Get Alerts WSM Hot Sheet
Price: $48.64 +0.70%

Rating Summary:
    13 Buy, 22 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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.

For an analyst ratings summary and ratings history on Williams-Sonoma click here. For more ratings news on Williams-Sonoma click here.

Shares of Williams-Sonoma closed at $54.14 yesterday.

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