Guess? PT Lowered to $27.00 at Wunderlich (GES)
Investment analysts at Wunderlich dropped their price target on shares of Guess? (NYSE:GES) from $31.00 to $27.00 in a note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Wunderlich’s price objective would indicate a potential upside of 5.30% from the stock’s previous close.
The analysts wrote, “We are reducing our price target to $27 (from $31) and cutting our FY15 and FY16 EPS estimates to $1.09 (from $1.47) and $1.63 (from $1.98), respectively, after GUESS? (GES) missed 2Q top and bottom line expectations and provided guidance that affirmed that the turn in the North American operations is not a near-term event. That said, the company did provide guideposts that allow us to be surer of the turn in Europe; accelerated domestic store closures, cost cutting, and their balance sheet remains pristine and the dividend highly secure. As such, while we are becoming more conservative, especially in the near term, we are retaining our Buy rating, as we view the risk/reward, especially for longer-term investors, as still compelling.”
Shares of Guess? (NYSE:GES) traded down 9.06% on Thursday, hitting $23.317. The stock had a trading volume of 1,072,733 shares. Guess? has a one year low of $24.60 and a one year high of $34.94. The stock has a 50-day moving average of $26.41 and a 200-day moving average of $27.41. The company has a market cap of $1.988 billion and a price-to-earnings ratio of 15.53. Guess? also was the recipient of some unusual options trading on Tuesday. Investors acquired 3,251 put options on the stock. This is an increase of 444% compared to the typical volume of 598 put options.
Guess? (NYSE:GES) last announced its earnings results on Wednesday, August 27th. The company reported $0.26 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.03. The company had revenue of $608.60 million for the quarter, compared to the consensus estimate of $617.91 million. During the same quarter last year, the company posted $0.52 earnings per share. Guess?’s revenue was down 4.7% compared to the same quarter last year. On average, analysts predict that Guess? will post $1.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 3.51%.
GES has been the subject of a number of other recent research reports. Analysts at Mizuho cut their price target on shares of Guess? from $26.00 to $22.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Standpoint Research upgraded shares of Guess? from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. They now have a $32.00 price target on the stock, down previously from $480.00. Finally, analysts at Piper Jaffray downgraded shares of Guess? from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 19th. They now have a $25.00 price target on the stock, down previously from $29.00. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Guess? currently has an average rating of “Hold” and an average price target of $29.08.
Guess?, Inc (NYSE:GES) designs, markets, distributes and licenses apparel and accessories for men, women and children.
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