Oppenheimer Chops Estimates on Citi Trends (CTRN); Q2 Results Less Than Stellar
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Price: $22.61 +1.76%
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Oppenheimer reiterates a 'Perform' on Citi Trends (NASDAQ: CTRN).
Analyst, Pamela Quintiliano, said, "CTRN reported 2Q12 EPS of ($0.54), below Opco/consensus estimates of ($0.45)/($0.44). Results obviously disappointed relative to heightened expectations and primarily reflected ongoing struggles across the women's branded product assortment (roughly 10% of sales). Additionally, month-to-date results are trending in line with 2Q's at (4)%, also below Street expectations. As such, although other areas have illustrated signs of improvement reflecting new talent, we prefer to take a wait-and-see approach until women's turns the corner."
FY12 EPS estimate lowered from $0.35 to $0.08 and FY13 from 0.47 to $0.45.
For an analyst ratings summary and ratings history on Citi Trends click here. For more ratings news on Citi Trends click here.
Shares of Citi Trends closed at $12.53 yesterday.
Analyst, Pamela Quintiliano, said, "CTRN reported 2Q12 EPS of ($0.54), below Opco/consensus estimates of ($0.45)/($0.44). Results obviously disappointed relative to heightened expectations and primarily reflected ongoing struggles across the women's branded product assortment (roughly 10% of sales). Additionally, month-to-date results are trending in line with 2Q's at (4)%, also below Street expectations. As such, although other areas have illustrated signs of improvement reflecting new talent, we prefer to take a wait-and-see approach until women's turns the corner."
FY12 EPS estimate lowered from $0.35 to $0.08 and FY13 from 0.47 to $0.45.
For an analyst ratings summary and ratings history on Citi Trends click here. For more ratings news on Citi Trends click here.
Shares of Citi Trends closed at $12.53 yesterday.
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