Barclays Review of Stage Stores (SSI) Q2; Maintains an 'Equalweight', But Tweaks FY11
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Price: $0.38 --0%
Rating Summary:
1 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Stage Stores (NYSE: SSI), price target of $18.00.
Barclays analyst says, "Stage Stores reported 2Q11 EPS of $0.29, in line with our estimate and up from $0.27 last year. Comps rose 0.9%, supported by 34 new stores now in the comp base, and strong performance from the re-branded Goody's stores. SSI intends to rebrand 12 more stores to complete the rebranding effort in 3Q11. Transactions were up 3.8%, offset by a (3.5)% decline in AUR. Based on the 1.9% average comp seen from March to July, SSI expects 1%-3% comp growth in 2H11. August is expected to be the softest month in 3Q11 given the delay in back-to-school from prior years."
"Given additional visibility around 2H11, we are raising our 2011 EPS estimate to $1.10 from $1.05 and maintaining our 2012 EPS estimate of $1.20, 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 $13.34 yesterday.
Barclays analyst says, "Stage Stores reported 2Q11 EPS of $0.29, in line with our estimate and up from $0.27 last year. Comps rose 0.9%, supported by 34 new stores now in the comp base, and strong performance from the re-branded Goody's stores. SSI intends to rebrand 12 more stores to complete the rebranding effort in 3Q11. Transactions were up 3.8%, offset by a (3.5)% decline in AUR. Based on the 1.9% average comp seen from March to July, SSI expects 1%-3% comp growth in 2H11. August is expected to be the softest month in 3Q11 given the delay in back-to-school from prior years."
"Given additional visibility around 2H11, we are raising our 2011 EPS estimate to $1.10 from $1.05 and maintaining our 2012 EPS estimate of $1.20, 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 $13.34 yesterday.
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