Wall Street Cuts Target Price after Foot Locker’s 1Q17 Results
After Foot Locker (FL) posted weak 1Q17 results, Wall Street reacted with a series of price target cuts.
Foot Locker’s (FL) stock price moved south after posting lower-than-expected first quarter results.
Foot Locker’s (FL) total sales rose 0.7% YoY (year-over-year) to $2 billion during the first quarter of 2017.
Foot Locker’s gross margin stood at 34% of sales, 100 points lower than in the corresponding quarter last year.
Foot Locker (FL) missed Wall Street revenue and earnings estimates. Earnings per share fell 2.2% YoY (year-over-year) to $1.36, falling short of the consensus by two cents.
Cisco Systems (CSCO) plans to announce its fiscal 3Q17 results on May 16, 2017. Analysts estimate revenues of ~$11.9 billion, which would represent a decline from its 3Q16 revenues of $12.0 billion.
Of the 26 analysts covering Tiffany stock, 42.0% rated it a “buy” as of April 3, 2017, while 54.0% rated it a “hold,” and one (4.0%) rated it a “sell.”
Tiffany (TIF) continues to struggle in the Americas. Lower demand from consumers has stemmed from a shift toward low-priced accessories.
Tiffany’s international operations are vital to top-line growth. In fiscal 2016, US sales accounted for 42.3% of overall sales, while other countries made up 42.6%.
In fiscal 2016, Tiffany (TIF) had been witnessing dwindling sales, but things started to improve in the second half of fiscal 2016.
Tiffany (TIF) stock has been witnessing stupendous growth in 2017. On a YTD basis, the stock has gained more than 22% as of April 3.
As of March 10, 2017, 14 out of 23 analysts surveyed (61%) had issued a “buy” recommendation for Ulta stock. Nine analysts have given it a “hold” rating.
In fiscal 2016, Ulta Beauty added 69 new brands and implemented over 500 prestige brand expansions.
Ulta’s gross margin declined in fiscal 4Q16, though the company’s operating margin improved on a YoY basis.
Ulta saw its sales rise 24.6% to $1.58 billion in fiscal 4Q16, surpassing the consensus analysts’ sales estimate of $1.54 billion for fiscal 4Q16.
Ulta Beauty delivered adjusted EPS (earnings per share) of $2.24 ahead of the consensus Wall Street analysts’ estimate of $2.13.
Ulta Beauty (ULTA) stock rose 4.6% to $286.42 on March 10, 2017, in reaction to the company’s impressive results for fiscal 4Q16.
On March 1, Best Buy’s (BBY) 12-month forward PE fell 11.7% to 11.4x on March 1, the day the company announced its fiscal 4Q17 results.
As of March 2, 72%, or 18 out of 25 analysts covering Best Buy’s stock, had a “hold” recommendation.
Best Buy (BBY) exceeded analysts’ earnings estimate but missed the consensus revenue estimate in fiscal 4Q17.