Wedbush Maintains a 'Neutral' on Abercrombie & Fitch (ANF); Cutting Estimates on Disappointing Channel Checks
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Price: $108.13 -0.63%
Rating Summary:
15 Buy, 23 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 23 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush maintains a 'Neutral' on Abercrombie & Fitch (NYSE: ANF) price target raised from $43 to $46.
Analyst, Betty Chen, said, "We are lowering our Q1 Operating EPS to $0.00 from $0.06, as we now expect gross margin deterioration of ~500 bp, relative to management’s guidance for down (400-500) bp. We look for a Q1 comp of (4)% vs. +10% LY, below current consensus' (0.5)%, as gross margin remains depressed from higher input cost and competitive pressures and dips (490) bps to 60.1%, while SG&A declines 30 bps to 60%. Consensus Q1 OpEPS estimate is $0.01."
Chen lowers FY12 from $3.50 to $3.45, revs cut from $5.184 bln to $4.742 bln. Introduces FY13 EPS estimate at $4.45.
For an analyst ratings summary and ratings history on Abercrombie & Fitch click here. For more ratings news on Abercrombie & Fitch click here.
Shares of Abercrombie & Fitch closed at $48.94 yesterday.
Analyst, Betty Chen, said, "We are lowering our Q1 Operating EPS to $0.00 from $0.06, as we now expect gross margin deterioration of ~500 bp, relative to management’s guidance for down (400-500) bp. We look for a Q1 comp of (4)% vs. +10% LY, below current consensus' (0.5)%, as gross margin remains depressed from higher input cost and competitive pressures and dips (490) bps to 60.1%, while SG&A declines 30 bps to 60%. Consensus Q1 OpEPS estimate is $0.01."
Chen lowers FY12 from $3.50 to $3.45, revs cut from $5.184 bln to $4.742 bln. Introduces FY13 EPS estimate at $4.45.
For an analyst ratings summary and ratings history on Abercrombie & Fitch click here. For more ratings news on Abercrombie & Fitch click here.
Shares of Abercrombie & Fitch closed at $48.94 yesterday.
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