UBS Maintains a 'Neutral' on Saks Inc. (SKS); Cutting Estimates on Near-Term Caution
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Price: $15.49 --0%
Rating Summary:
1 Buy, 8 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 8 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SKS Now!
UBS maintains a 'Neutral' on Saks Inc. (NYSE: SKS) price target lowered from $12 to $11.
Analyst, Michael Binetti, said, "1Q EPS of $0.19 was in line with our estimate and above Street at $0.18. We are reducing our 2QE and 2012E EPS based on slightly worse-than-expected 1Q women’s fashion apparel trends, and related add’l markdowns to clear product in 2Q. We are trimming our 2QE EPS to ($0.08) from ($0.05) to reflect greater GM contraction (UBSe -110bp vs -10bp prior). We are also lowering our 2012 same-store sales estimates to +5.2% from +6.6%, and are trimming our 2012 EPS estimate to $0.48 from $0.51." (FY13 from $0.58 to $0.56)
For an analyst ratings summary and ratings history on Saks Inc. click here. For more ratings news on Saks Inc. click here.
Shares of Saks Inc. closed at $10.05 yesterday, with a 52 week range of $7.67-$12.14.
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Analyst, Michael Binetti, said, "1Q EPS of $0.19 was in line with our estimate and above Street at $0.18. We are reducing our 2QE and 2012E EPS based on slightly worse-than-expected 1Q women’s fashion apparel trends, and related add’l markdowns to clear product in 2Q. We are trimming our 2QE EPS to ($0.08) from ($0.05) to reflect greater GM contraction (UBSe -110bp vs -10bp prior). We are also lowering our 2012 same-store sales estimates to +5.2% from +6.6%, and are trimming our 2012 EPS estimate to $0.48 from $0.51." (FY13 from $0.58 to $0.56)
For an analyst ratings summary and ratings history on Saks Inc. click here. For more ratings news on Saks Inc. click here.
Shares of Saks Inc. closed at $10.05 yesterday, with a 52 week range of $7.67-$12.14.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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