Jefferies Cuts Price Target on Men's Wearhouse (MW), Sees Q2 Beating Expectations & Q3 Falling Short
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Price: $13.71 --0%
Rating Summary:
4 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
4 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Wedbush is maintaining its Neutral rating on shares of The Men's Wearhouse, Inc. (NYSE: MW) while lowering its price target from $34 to $32.
The company is scheduled to report its second quarter earnings on September 7 following the closing bell. The conference will be held at 5:00 pm and the dial-in number is (480) 629-9818.
The firm believes that the company will release its second quarter results ahead of expectations, but anticipates that the third quarter guidance will prove to be below the consensus due to tougher comparisons.
With earlier comments from management indicating increasing demand in tux rentals and in its UK uniform business, the firm expects that both segments will outperform expectations.
For the second quarter, Wedbush is forecasting EPS of $1.03 with $636.5 million in revenue. For the third quarter, the firm is estimating EPS of $0.62 with $560.2 million.
Wedbush is estimating EPS of $2.05 and $2.25 for 2011 and 2012 with $2.338 billion and $2.435 billion in revenue for the two years.
An analyst at Wedbush comments, "We believe that replenishment demand, improved product mix, and healthier inventory levels continue to drive UPT gains as the company benefits from higher margin suits sales at TMW and strategic BOGO promotions at K&G."
For more ratings news on The Men's Wearhouse, Inc. click here and for the rating history of The Men's Wearhouse, Inc. click here.
Shares of The Men's Wearhouse, Inc. closed at $28.49 yesterday.
The company is scheduled to report its second quarter earnings on September 7 following the closing bell. The conference will be held at 5:00 pm and the dial-in number is (480) 629-9818.
The firm believes that the company will release its second quarter results ahead of expectations, but anticipates that the third quarter guidance will prove to be below the consensus due to tougher comparisons.
With earlier comments from management indicating increasing demand in tux rentals and in its UK uniform business, the firm expects that both segments will outperform expectations.
For the second quarter, Wedbush is forecasting EPS of $1.03 with $636.5 million in revenue. For the third quarter, the firm is estimating EPS of $0.62 with $560.2 million.
Wedbush is estimating EPS of $2.05 and $2.25 for 2011 and 2012 with $2.338 billion and $2.435 billion in revenue for the two years.
An analyst at Wedbush comments, "We believe that replenishment demand, improved product mix, and healthier inventory levels continue to drive UPT gains as the company benefits from higher margin suits sales at TMW and strategic BOGO promotions at K&G."
For more ratings news on The Men's Wearhouse, Inc. click here and for the rating history of The Men's Wearhouse, Inc. click here.
Shares of The Men's Wearhouse, Inc. closed at $28.49 yesterday.
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