DSW Stock Rating Upgraded by Credit Suisse (DSW)
DSW (NYSE: DSW) was upgraded by equities researchers at Credit Suisse from a “neutral” rating to an “outperform” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $73.00 target price on the stock.
The analysts wrote, “We are upgrading DSW from Neutral to Outperform. We raising our price target from $70 to $73, which reflects 16x our 2014 EPS estimate, ex-cash, and is based on peer-multiple analysis and long term EPS buildup. The combination of higher investment spend in 2012 and lofty expectations previously kept us on the sidelines, despite our favorable view of this business model, the growth opportunity and management team. Expectations have come down materially ($0.30+ for ’13), primarily due to the weaker start to Q1, which we attribute mostly to colder weather. Yet our channel checks around the U.S. suggest that sales are healthy where weather is favorable.”
DSW (NYSE: DSW) traded up 2.93% on Friday, hitting $65.25. DSW has a 52-week low of $60.26 and a 52-week high of $68.74. The stock’s 50-day moving average is currently $65.. The company has a market cap of $2.981 billion and a price-to-earnings ratio of 19.64.
DSW (NYSE: DSW) last released its earnings data on Tuesday, March 19th. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.72 by $0.03. The company had revenue of $594.30 million for the quarter, compared to the consensus estimate of $602.27 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. DSW has set its FY14 guidance at $3.30-3.40 EPS. Analysts expect that DSW will post $3.53 EPS for the current fiscal year.
DSW has been the subject of a number of other recent research reports. Analysts at KeyBanc cut their price target on shares of DSW from $81.00 to $72.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at MKM Partners cut their price target on shares of DSW from $75.00 to $71.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of DSW from $78.00 to $73.00 in a research note to investors on Wednesday. They now have a “positive” rating on the stock.
Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.29.
DSW Inc. (NYSE: DSW) is a branded footwear specialty retailer. As of January 30, 2010, the Company operated 305 shoe stores in 39 states in the United States.
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