Nomura Securities Maintains a 'Reduce' on Pacific Sunwear (PSUN); Raising Estimates After Q1 Report
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Price: $0.04 --0%
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Nomura Securities maintains a 'Reduce' on Pacific Sunwear (NASDAQ: PSUN) price target of $1.00.
Analyst, Paul Lejuez, said, "1Q EPS were ($0.20) vs. our est of ($0.29), cons of ($0.29). Trends improved in the back half of 1Q, with comps turning positive for the qtr as a whole. Merch margin also improved in the qtr, showing that the business is improving, though off of very depressed levels. Despite these positive signs, the company still has a long way to go to achieve profitability. We are increasing our F12E EPS from ($0.66) to ($0.42) and our F13E EPS from ($0.37) to ($0.13). With our forecast of another negative EBITDA year, we do not see positive catalysts for the stock in the near-term."
For an analyst ratings summary and ratings history on Pacific Sunwear click here. For more ratings news on Pacific Sunwear click here.
Shares of Pacific Sunwear closed at $1.29 yesterday.
Analyst, Paul Lejuez, said, "1Q EPS were ($0.20) vs. our est of ($0.29), cons of ($0.29). Trends improved in the back half of 1Q, with comps turning positive for the qtr as a whole. Merch margin also improved in the qtr, showing that the business is improving, though off of very depressed levels. Despite these positive signs, the company still has a long way to go to achieve profitability. We are increasing our F12E EPS from ($0.66) to ($0.42) and our F13E EPS from ($0.37) to ($0.13). With our forecast of another negative EBITDA year, we do not see positive catalysts for the stock in the near-term."
For an analyst ratings summary and ratings history on Pacific Sunwear click here. For more ratings news on Pacific Sunwear click here.
Shares of Pacific Sunwear closed at $1.29 yesterday.
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