Nomura Securities Reiterates a 'Reduce' on Pacific Sunwear (PSUN); Cutting Estimates on Q4 Results
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Price: $0.04 --0%
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities reiterates a 'Reduce' on Pacific Sunwear of California (NASDAQ: PSUN) price target of $1.00.
Analyst, Paul Lejuez, said, "4Q EPS was ($0.19) vs our est of ($0.23), cons of ($0.22), and mgmt (non-GAAP) guidance of ($0.18)-($0.27).4Q was more or less in line with expectations, but F12 has started off weak, especially in women’s. This is especially concerning given the good performance of most other retailers during February, as well as efforts the company has made to improve the product. We are reducing our F12E EPS from ($0.42) to ($0.66) and are introducing our F13E EPS of ($0.37). Despite efforts to improve product, business trends have deteriorated in F12 and the environment is not likely to cut PSUN any slack. They are burning cash, and we do not see an easy path out of their downward spiral."
For an analyst ratings summary and ratings history on Pacific Sunwear of California click here. For more ratings news on Pacific Sunwear of California click here.
Shares of Pacific Sunwear of California closed at $2.51 yesterday.
Analyst, Paul Lejuez, said, "4Q EPS was ($0.19) vs our est of ($0.23), cons of ($0.22), and mgmt (non-GAAP) guidance of ($0.18)-($0.27).4Q was more or less in line with expectations, but F12 has started off weak, especially in women’s. This is especially concerning given the good performance of most other retailers during February, as well as efforts the company has made to improve the product. We are reducing our F12E EPS from ($0.42) to ($0.66) and are introducing our F13E EPS of ($0.37). Despite efforts to improve product, business trends have deteriorated in F12 and the environment is not likely to cut PSUN any slack. They are burning cash, and we do not see an easy path out of their downward spiral."
For an analyst ratings summary and ratings history on Pacific Sunwear of California click here. For more ratings news on Pacific Sunwear of California click here.
Shares of Pacific Sunwear of California closed at $2.51 yesterday.
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