Smith & Wesson (SWHC) Can't Take the Heat
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Investors of Smith & Wesson Holding Corp. (Nasdaq: SWHC) are proving today that within an earnings report, the last quarters results are sometimes not the most important part.
Smith & Wesson reported second quarter EPS of $0.07, 1 cent better than the analyst estimate of $0.06. Revenues for the quarter came in at $70.8 million, versus the consensus of $69.48 million. Despite results that were slightly better than in-line, shares of Smith & Wesson have fallen more than 28% today as a result of the guidance given by the Company: it expects third quarter EPS to be break-even, $0.00, versus the Wall Street consensus of $0.07. FY08 EPS are expected to be about $0.40, versus the consensus of $0.52.
The weak outlook, given last night, dropped shares of Smith & Wesson a little less than $3 to about $7.65. Shares sank even further this morning, opening at $7.02 after two analyst firms downgraded the stock. Rodman & Renshaw moved Smith & Wesson from Market Perform to Underperform and set a $4.50 price target. Also, ThinkEquity downgraded SWHC from Buy to Source of Funds, with a $7.50 price target.
Today's correction has pushed shares of Smith & Wesson to a new 52-week low at $6.68.
Smith & Wesson reported second quarter EPS of $0.07, 1 cent better than the analyst estimate of $0.06. Revenues for the quarter came in at $70.8 million, versus the consensus of $69.48 million. Despite results that were slightly better than in-line, shares of Smith & Wesson have fallen more than 28% today as a result of the guidance given by the Company: it expects third quarter EPS to be break-even, $0.00, versus the Wall Street consensus of $0.07. FY08 EPS are expected to be about $0.40, versus the consensus of $0.52.
The weak outlook, given last night, dropped shares of Smith & Wesson a little less than $3 to about $7.65. Shares sank even further this morning, opening at $7.02 after two analyst firms downgraded the stock. Rodman & Renshaw moved Smith & Wesson from Market Perform to Underperform and set a $4.50 price target. Also, ThinkEquity downgraded SWHC from Buy to Source of Funds, with a $7.50 price target.
Today's correction has pushed shares of Smith & Wesson to a new 52-week low at $6.68.
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