Nomura Securities Maintains a 'Neutral' on Wet Seal, Inc. (WTSLA); 3Q 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: 12 | Down: 21 | New: 20
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Nomura Securities maintains a 'Neutral' on Wet Seal, Inc. (NASDAQ: WTSLA) price target of $4.00.
Nomura analyst, Paul Lejuez, said, "The good news is that November month-to-date trends have stabilized vs October (which was down 10%). The bad news is that WTSLA is expecting November overall comps down mid-single digits and 4Q comps down low-single digits as it moves forward with its strategy to be less promotional. We expect more top-line pain in the near term as most retailers are using increased promos to drive traffic. We are reducing our 4Q11E from $0.05 to $0.04 (vs cons $0.06) and our F12E from $0.23 to $0.19 (vs cons $0.25) based primarily on lower sales than previously forecast. The stock trades at 3.9x our F12E EBITDA, a discount vs the softlines group at 6.1x."
For an analyst ratings summary and ratings history on Wet Seal, Inc. click here. For more ratings news on Wet Seal, Inc. click here.
Shares of Wet Seal, Inc. closed at $3.08 yesterday.
Nomura analyst, Paul Lejuez, said, "The good news is that November month-to-date trends have stabilized vs October (which was down 10%). The bad news is that WTSLA is expecting November overall comps down mid-single digits and 4Q comps down low-single digits as it moves forward with its strategy to be less promotional. We expect more top-line pain in the near term as most retailers are using increased promos to drive traffic. We are reducing our 4Q11E from $0.05 to $0.04 (vs cons $0.06) and our F12E from $0.23 to $0.19 (vs cons $0.25) based primarily on lower sales than previously forecast. The stock trades at 3.9x our F12E EBITDA, a discount vs the softlines group at 6.1x."
For an analyst ratings summary and ratings history on Wet Seal, Inc. click here. For more ratings news on Wet Seal, Inc. click here.
Shares of Wet Seal, Inc. closed at $3.08 yesterday.
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