Barclays Reiterates an 'Overweight' on Express Inc. (EXPR); 3Q FY11 Earnings Review
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Price: $0.83 --0%
Rating Summary:
7 Buy, 9 Hold, 3 Sell
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 9 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays reiterates an 'Overweight' on Express Inc. (NYSE: EXPR) price target of $25.00.
Barclays analyst says, "EXPR reported 3Q FY11 EPS of $0.37, $0.02 above us and consensus of $0.35, and above guidance of $0.33 to $0.36. EXPR missed our revenue estimate but still beat our EPS estimate due to lower than expected interest expense...We think there was likely some hit from weather on the apparel retailers, but were surprised EXPR didn't comp a bit stronger, we think there are some questions about whether the incremental marketing is driving the comp, and we don't think the company delivered enough this quarter to meet some investor expectations."
"Inventories look high, but while management would not give details, our sense is there are more forward seasons goods, the company brought in holiday earlier, and EXPR is funding new categories such as personal care and shoes...We are raising our 4Q11 EPS estimate to $0.68 from $0.65, FY11 to $1.63 from $1.59 and maintaining FY12 at $1.82."
For an analyst ratings summary and ratings history on Express Inc. click here. For more ratings news on Express Inc. click here.
Shares of Express Inc. closed at $22.69 yesterday.
Barclays analyst says, "EXPR reported 3Q FY11 EPS of $0.37, $0.02 above us and consensus of $0.35, and above guidance of $0.33 to $0.36. EXPR missed our revenue estimate but still beat our EPS estimate due to lower than expected interest expense...We think there was likely some hit from weather on the apparel retailers, but were surprised EXPR didn't comp a bit stronger, we think there are some questions about whether the incremental marketing is driving the comp, and we don't think the company delivered enough this quarter to meet some investor expectations."
"Inventories look high, but while management would not give details, our sense is there are more forward seasons goods, the company brought in holiday earlier, and EXPR is funding new categories such as personal care and shoes...We are raising our 4Q11 EPS estimate to $0.68 from $0.65, FY11 to $1.63 from $1.59 and maintaining FY12 at $1.82."
For an analyst ratings summary and ratings history on Express Inc. click here. For more ratings news on Express Inc. click here.
Shares of Express Inc. closed at $22.69 yesterday.
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