Cowen and Company Reiterates Market Perform Rating for Men’s Wearhouse (MW)
Men’s Wearhouse (NYSE:MW)‘s stock had its “market perform” rating reaffirmed by equities researchers at Cowen and Company in a research report issued on Monday, ARN reports. They currently have a $48.00 price objective on the stock, up from their previous price objective of $35.00. Cowen and Company’s target price would suggest a potential upside of 2.85% from the company’s current price.
The analysts wrote, “JOSB may launch a higher all-cash offer hoping to compel the MW board to reconsider its initial rejection. Our conversations lead us to conclude the “consensus” among event driven investors is that JOSB raises its offer and attempts to pressure MW Board into accepting a higher offer before it turns to hostile tactics. The hostile route could be a prolonged distraction and JOSB’s business could further deteriorate, which could deter debt financing. The deal may face anti-trust issues. We are skeptical of a counter offer by MW, but can’t rule this or other scenarios out. We are raising our MW price target to $48 from $35.”
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus downgraded shares of Men’s Wearhouse from a “buy” rating to a “hold” rating in a research note to investors on Thursday. They now have a $40.00 price target on the stock. Separately, analysts at Miller Tabak downgraded shares of Men’s Wearhouse from a “buy” rating to a “hold” rating in a research note to investors on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $41.52.
Men’s Wearhouse (NYSE:MW) traded up 0.06% on Monday, hitting $46.70. 287,269 shares of the company’s stock traded hands. Men’s Wearhouse has a 52-week low of $27.42 and a 52-week high of $46.99. The stock has a 50-day moving average of $37.69 and a 200-day moving average of $36.80. The company has a market cap of $2.232 billion and a price-to-earnings ratio of 19.64.
Men’s Wearhouse (NYSE:MW) last issued its quarterly earnings data on Wednesday, September 11th. The company reported $1.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.14 by $0.13. The company had revenue of $647.00 million for the quarter, compared to the consensus estimate of $671.00 million. During the same quarter last year, the company posted $1.15 earnings per share. Men’s Wearhouse’s revenue was down 2.3% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 27th. Investors of record on Tuesday, December 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, December 13th.
The Men’s Wearhouse, Inc is a specialty retailer of men’s suits and a provider of tuxedo rental product in the United States and Canada.
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