Benchmark Downgrades Warnaco Group (WRC) to 'Hold' Ahead of Earnings Announcement
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Price: $73.52 --0%
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Benchmark downgraded Warnaco Group (NYSE: WRC) from Buy to Hold.
Benchmark analyst says, "We expect EPS in line with our estimate $1.00, and just slightly above the recently lowered consensus of $0.99, but expect that 2012 guidance may fall short of our and consensus estimates, given headwinds. We expect headwinds in the first half of 2012 from Olympic marketing, promotional environment, exposure to southern Europe, adverse currency, increased raw materials and a greater consumer direct business. While we expect some of these headwinds to dissipate in the back half, we believe guidance may fall short of our optimistic projections for a back –end loaded year. Our 2012 EPS estimate is $4.53, up 13.9% from 2011. Given our concerns on 2012 guidance, we are downgrading to Hold and withdrawing our price target."
For an analyst ratings summary and ratings history on Warnaco Group click here. For more ratings news on Warnaco Group click here.
Shares of Warnaco Group closed at $58.78 yesterday.
Benchmark analyst says, "We expect EPS in line with our estimate $1.00, and just slightly above the recently lowered consensus of $0.99, but expect that 2012 guidance may fall short of our and consensus estimates, given headwinds. We expect headwinds in the first half of 2012 from Olympic marketing, promotional environment, exposure to southern Europe, adverse currency, increased raw materials and a greater consumer direct business. While we expect some of these headwinds to dissipate in the back half, we believe guidance may fall short of our optimistic projections for a back –end loaded year. Our 2012 EPS estimate is $4.53, up 13.9% from 2011. Given our concerns on 2012 guidance, we are downgrading to Hold and withdrawing our price target."
For an analyst ratings summary and ratings history on Warnaco Group click here. For more ratings news on Warnaco Group click here.
Shares of Warnaco Group closed at $58.78 yesterday.
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