Wunderlich Initiates Coverage on Guess? (GES)
Equities research analysts at Wunderlich began coverage on shares of Guess? (NYSE:GES) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $31.00 price target on the stock. Wunderlich’s target price would suggest a potential upside of 19.23% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of GUESS?, Inc. (GES) with a Buy rating and a $31 price target, or 15.6x our FY16 EPS of $1.98. We believe, after a long period of underperforming in the United States and Europe, that the company is beginning to turn domestically under new fashion leadership, with Europe shaping up as a key positive for FY16. Further, we believe the company has continued to achieve progress in the omnichannel segment, which could drive stronger longer-term returns. With almost $5.50 per share in net cash, a dividend yield of 3.4%, and one of the most unappreciated Specialty Retailing stories on the Street (only 2 Buys out of 13 analysts covering the name [and 2 Sell ratings]), we believe the downside risk is limited and we would be buyers of GES shares.”
Guess? (NYSE:GES) opened at 25.04 on Thursday. Guess? has a 1-year low of $24.90 and a 1-year high of $34.94. The stock has a 50-day moving average of $26.80 and a 200-day moving average of $27.5. The company has a market cap of $2.135 billion and a P/E ratio of 15.75.
Guess? (NYSE:GES) last announced its earnings results on Thursday, May 29th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.03. The company had revenue of $522.50 million for the quarter, compared to the consensus estimate of $528.44 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts predict that Guess? will post $1.49 earnings per share for the current fiscal year.
GES has been the subject of a number of other recent research reports. Analysts at Piper Jaffray upgraded shares of Guess? from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 8th. They now have a $32.00 price target on the stock, up previously from $25.00. Analysts at TheStreet downgraded shares of Guess? from a “buy” rating to a “hold” rating in a research note on Monday, June 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.45.
Guess?, Inc (NYSE:GES) designs, markets, distributes and licenses apparel and accessories for men, women and children.
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