Nomura Securities Maintains a 'Neutral' on Wet Seal, Inc. (WTSLA); Q2 Review
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Price: $2.95 -2.64%
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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Nomura Securities maintains a 'Neutral' on Wet Seal, Inc. (NASDAQ: WTSLA).
Nomura analyst, Paul Lejuez, says, "Reported 2Q EPS of $0.03 (excl asset impairment), slightly above our est and cons of $0.02. Impressively, comps are up mid single digit 3Q-to-date. The company has not experienced any softness in sales trends during the market/economic volatility in August and merchandise margin trends remain strong. We are raising our F11E EPS from $0.18 to $0.23 due to lower share count as well as higher sales and margins than previously forecast. The stock trades at 4.5x our F12E EBITDA, a slight discount to the softlines group at ~5.5x. We believe this discount is justified based on WTSLA’s growth prospects.
For more ratings news on Wet Seal, Inc. click here and for the rating history of Wet Seal, Inc. click here.
Shares of Wet Seal, Inc. closed at $4.00 yesterday.
Nomura analyst, Paul Lejuez, says, "Reported 2Q EPS of $0.03 (excl asset impairment), slightly above our est and cons of $0.02. Impressively, comps are up mid single digit 3Q-to-date. The company has not experienced any softness in sales trends during the market/economic volatility in August and merchandise margin trends remain strong. We are raising our F11E EPS from $0.18 to $0.23 due to lower share count as well as higher sales and margins than previously forecast. The stock trades at 4.5x our F12E EBITDA, a slight discount to the softlines group at ~5.5x. We believe this discount is justified based on WTSLA’s growth prospects.
For more ratings news on Wet Seal, Inc. click here and for the rating history of Wet Seal, Inc. click here.
Shares of Wet Seal, Inc. closed at $4.00 yesterday.
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