Lumber Liquidators (LL) PT, Estimates Cut at Jefferies on Risk to Sales from 60 Minutes Piece

Jefferies analyst Daniel Binder lowered estimates and his price target on Hold-rated Lumber Liquidators (NYSE: LL) to $52.00 (from $59.00) following Q4 results and sales risk from 60 Minutes piece.

Binder commented, "After a Q4 sales and EPS miss, sales are recovering as the LL gets better in-stock and promotional. As a result EPS guidance at the midpoint was about 7% below the Street. News that the LL will be portrayed in a negative light on the TV show 60 Minutes added uncertainty around future sales as sourcing and product quality are questioned. Disclosure of potential criminal charges related to a Lacey Act investigation spooked investors too."

The firm cut Q1 EPS from $0.53 to $0.48, FY 2015 EPS from $2.93 to $2.89 and FY 2016 EPS from $3.38 to $3.31.

For an analyst ratings summary and ratings history on Lumber Liquidators click here. For more ratings news on Lumber Liquidators click here.

Shares of Lumber Liquidators closed at $50.63 yesterday.

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