MKM Partners Maintains a 'Neutral' on Dollar Tree (DLTR); Adjusting PT and Estimates After Q2 Results

August 17, 2012 11:11 AM EDT Send to a Friend
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Price: $55.29 -1.39%

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    12 Buy, 11 Hold, 0 Sell

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    Up: 16 | Down: 12 | New: 33
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MKM Partners maintains a 'Neutral' on Dollar Tree (NASDAQ: DLTR) price target of $51.00 (from $53.00)

Analyst, Patrick McKeever, said, "Dollar Tree had another very good quarter, though same-store sales came in a bit light of expectations (up 4.5% vs. our 5.0% estimate and the Street’s 4.8%) and slowed sequentially, particularly on a two-year-stacked basis.

"We are lowering our 3Q12 same-store sales estimate from 5.0% to 4.0% to reflect the slightly slower trend seen in 2Q12, and we are trimming our EPS estimate from $0.50 to $0.49, up 14% y/y and vs. new guidance of $0.47-$0.51. For 4Q12, we continue to expect a 2.5% comp increase on top of a 7.3% gain last year, though this may be a bit aggressive. For all of FY12, we now look for EPS of $2.50 vs. our prior $2.45."

For an analyst ratings summary and ratings history on Dollar Tree click here. For more ratings news on Dollar Tree click here.

Shares of Dollar Tree closed at $49.11 yesterday.




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