Janney Montgomery Scott Cuts Estimates and PT on Pacific Sunwear (PSUN); Low Visibility on Turn
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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: 9 | New: 13
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 9 | New: 13
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Janney Montgomery Scott maintains a 'Buy' on Pacific Sunwear of California (NASDAQ: PSUN) price target lowered from $4 to $3.
JMS analyst says, "PSUN reported 4Q11 LPS of ($0.19) pro forma versus consensus at ($0.22) and the company's issued guidance range of ($0.18) to ($0.27)...Management guided 1Q12 LPS below the Street to the range of ($0.26) to ($0.34) pro forma versus consensus at ($0.24). 1Q12 comp is expected to be in the range of -4% to +1%. Clearly the turn is not at hand, and the visibility on when the business will begin to improve is very low. On the 4Q11 earnings call, management stated that quarter-to-date sales are currently at the lower end of the company's guidance range."
"Based on our belief that the business turn has been pushed out at least a year, we are lowering our FY12 and FY13 LPS estimates. Our FY12 LPS estimate goes to ($0.72) from ($0.43) (versus the Street at ($0.46)), and our FY13 LPS estimate goes to ($0.39) from $0.02 (versus the Street at ($0.22))."
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.
JMS analyst says, "PSUN reported 4Q11 LPS of ($0.19) pro forma versus consensus at ($0.22) and the company's issued guidance range of ($0.18) to ($0.27)...Management guided 1Q12 LPS below the Street to the range of ($0.26) to ($0.34) pro forma versus consensus at ($0.24). 1Q12 comp is expected to be in the range of -4% to +1%. Clearly the turn is not at hand, and the visibility on when the business will begin to improve is very low. On the 4Q11 earnings call, management stated that quarter-to-date sales are currently at the lower end of the company's guidance range."
"Based on our belief that the business turn has been pushed out at least a year, we are lowering our FY12 and FY13 LPS estimates. Our FY12 LPS estimate goes to ($0.72) from ($0.43) (versus the Street at ($0.46)), and our FY13 LPS estimate goes to ($0.39) from $0.02 (versus the Street at ($0.22))."
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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