Big 5 Sporting Goods’s “Underperform” Rating Reaffirmed at Credit Suisse (BGFV)
Big 5 Sporting Goods (NASDAQ:BGFV)‘s stock had its “underperform” rating reaffirmed by research analysts at Credit Suisse in a report released on Monday, Analyst Ratings Net reports. They currently have a $11.00 price target on the stock, down from their previous price target of $14.00. Credit Suisse’s target price would indicate a potential downside of 11.58% from the stock’s previous close.
The analysts wrote, “We are lowering our 2014 estimate slightly following BGFV’s Q1 results and Q2 guidance last week. Off of the lower base, we lower our 2015 and 2016 estimates. Our target price goes to $11, which implies 10x our 2015 estimate. There is no change to our thesis, which balances the concerns over lapping strong firearm sales, increasing competition and incremental investments, with some merchandising improvements and longer-term operating margin expansion opportunities.”
Shares of Big 5 Sporting Goods (NASDAQ:BGFV) traded down 0.56% during mid-day trading on Monday, hitting $12.44. 359,131 shares of the company’s stock traded hands. Big 5 Sporting Goods has a 52 week low of $11.59 and a 52 week high of $25.00. The stock’s 50-day moving average is $14.55 and its 200-day moving average is $16.72. The company has a market cap of $274.0 million and a price-to-earnings ratio of 12.26.
Big 5 Sporting Goods (NASDAQ:BGFV) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.09. The company had revenue of $231.30 million for the quarter, compared to the consensus estimate of $230.23 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Analysts expect that Big 5 Sporting Goods will post $1.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, May 28th.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Big 5 Sporting Goods from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Separately, analysts at Zacks downgraded shares of Big 5 Sporting Goods from a “neutral” rating to an “underperform” rating in a research note on Friday, March 7th. They now have a $14.00 price target on the stock. Finally, analysts at Needham & Company LLC cut their EPS estimates on shares of Big 5 Sporting Goods in a research note on Wednesday. They now have a “strong-buy” rating and a $23.00 price target on the stock. They previously had a $27.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $18.20.
Big 5 Sporting Goods Corporation is a sporting goods retailer in the western United States, operating 414 stores in 12 states under the Big 5 Sporting Goods name as of December 30, 2012.
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