Nomura Securities Maintains a 'Neutral' on Staples, Inc. (SPLS); 3Q Review
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Price: $56.16 -0.07%
Rating Summary:
3 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Staples, Inc. (NASDAQ: SPLS) price target of $13.00.
Nomura analyst, Aram Rubinson, said, "SPLS reported in-line Q3 results, and lowered its guidance for Q4 EPS. Delivery margins were stronger than we modeled. Retail margins were also ahead of our model. Trading sales for margin was a good strategy in the past. That is no longer the case, in our view. The fact that Staples guided Q4 lower is consistent with our view that trends may weaken in the holiday season as they did last year. That is because office superstores simply do not carry ‘must-have’ items. We are updating our model to reflect mild outperformance against our estimate in Q3. We are now looking for 2011 EPS of $1.30 (from $1.28). We look for flattish EPS in 2012 ($1.32 from $1.25)."
For an analyst ratings summary and ratings history on Staples, Inc. click here. For more ratings news on Staples, Inc. click here.
Shares of Staples, Inc. closed at $14.81 yesterday.
Nomura analyst, Aram Rubinson, said, "SPLS reported in-line Q3 results, and lowered its guidance for Q4 EPS. Delivery margins were stronger than we modeled. Retail margins were also ahead of our model. Trading sales for margin was a good strategy in the past. That is no longer the case, in our view. The fact that Staples guided Q4 lower is consistent with our view that trends may weaken in the holiday season as they did last year. That is because office superstores simply do not carry ‘must-have’ items. We are updating our model to reflect mild outperformance against our estimate in Q3. We are now looking for 2011 EPS of $1.30 (from $1.28). We look for flattish EPS in 2012 ($1.32 from $1.25)."
For an analyst ratings summary and ratings history on Staples, Inc. click here. For more ratings news on Staples, Inc. click here.
Shares of Staples, Inc. closed at $14.81 yesterday.
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