Barclays Maintains an 'Equalweight' on Stage Stores (SSI); Review of 1Q11

Barclays maintains an 'Equalweight' on Stage Stores (NYSE: SSI), PT $20.

Barclays analyst says, "Stage Stores reported 1Q11 EPS fell to $(0.01), in line with our estimate and compared with $0.06 last year. Poor weather led to a weak start to the quarter as February comps fell (7.2)% and Easter trends toward the end of the quarter were also below expectations. However, in the Southwest, where weather trends were more normalized, and the Southeast, where the company rebranded many stores to Goody's, sales trends were better."

"We believe the company has been active in buying back stock, and believe the company will repurchase $100 mm in 2011, though our estimates do not reflect this impact. As a result, we are maintaining our 2011 and 2012 EPS estimates of $1.05 and $1.20, respectively, but believe these estimates may prove conservative given the repurchase authorization."

For more ratings news on Stage Stores click here and for the rating history of Stage Stores click here.

Shares of Stage Stores closed at $16.65 yesterday.

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