Deckers Outdoor (DECK) Looks to Make Q3 an 'UGG'-ly One (SKX, WWW,TBL)
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Deckers Outdoor Corp. (Nasdaq: DECK) is trading lower ahead of the company's third quarter earnings report, expected after the close today. Shares are down 1.2% in afternoon trading.
Deckers Outdoor is expected to report EPS of $0.93 on revs of $265.00 million. DECK posted EPS of $0.23 on revs of $137.1 million last quarter, topping views calling for EPS of $0.10 and revs of $127.04 million. In Q309, DECK had EPS of $0.86 and revs of $228.4 million, beating out views..
Shares of the company have gained through the quarter, popping 5.6% to $49.96 at the end of September. The stock is currently up 55% on the year, and up 7.6% since the end of the quarter.
The stock is going for a forward P/E of 13.7x next year’s EPS estimates, compared to 12.7x for Wolverine World Wide (NYSE: WWW), 6.1x for Skechers USA Inc. (NYSE: SKX), and 14.2x for Timberland (NYSE: TBL).
Data from Bloomberg has 7 analysts with a Buy rating on DECK, 6 with a Hold, and none suggesting to Sell. The analyst price target average is $57, with a high of $59 and a low of $50.
Analyst Ratings Through the Quarter
July had Credit Suisse upgrading the shares from Underperform to Neutral.
Summary
Capstone Investments thinks that DECK's UGG line will drive a 17% sales growth for the quarter, compared to just a 15% predicted by management. They see an EPS of $0.92 on revs of $224 million. Gross margin is also expected to be 46.2%. Capstone notes that Decker's is seeing a rise in incremental costs as they shift to a direct selling model versus distributor model in several European countries. Capstone reiterates Hold on the shares.
Deckers Outdoor Corp. is expected to release their Q310 earnings on Thursday, October 28, 2010, at approximately 4:00pm EDT. Stay tuned to StreetInsider.com's EPS Central section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
Deckers Outdoor is expected to report EPS of $0.93 on revs of $265.00 million. DECK posted EPS of $0.23 on revs of $137.1 million last quarter, topping views calling for EPS of $0.10 and revs of $127.04 million. In Q309, DECK had EPS of $0.86 and revs of $228.4 million, beating out views..
Shares of the company have gained through the quarter, popping 5.6% to $49.96 at the end of September. The stock is currently up 55% on the year, and up 7.6% since the end of the quarter.
The stock is going for a forward P/E of 13.7x next year’s EPS estimates, compared to 12.7x for Wolverine World Wide (NYSE: WWW), 6.1x for Skechers USA Inc. (NYSE: SKX), and 14.2x for Timberland (NYSE: TBL).
Data from Bloomberg has 7 analysts with a Buy rating on DECK, 6 with a Hold, and none suggesting to Sell. The analyst price target average is $57, with a high of $59 and a low of $50.
Analyst Ratings Through the Quarter
July had Credit Suisse upgrading the shares from Underperform to Neutral.
Summary
Capstone Investments thinks that DECK's UGG line will drive a 17% sales growth for the quarter, compared to just a 15% predicted by management. They see an EPS of $0.92 on revs of $224 million. Gross margin is also expected to be 46.2%. Capstone notes that Decker's is seeing a rise in incremental costs as they shift to a direct selling model versus distributor model in several European countries. Capstone reiterates Hold on the shares.
Deckers Outdoor Corp. is expected to release their Q310 earnings on Thursday, October 28, 2010, at approximately 4:00pm EDT. Stay tuned to StreetInsider.com's EPS Central section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
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