Loading...
Loading...
Coach
COH shares are down more than 2 percent Friday morning, likely on the heels of a JP Morgan note in which the firm's Brian Tunick lowered his fiscal-year estimates ahead of the company's Q4 earnings, expected out on July 30th.
Tunick now sees FY14 EPS of $3.90, down from $4.12 previously. The current Wall Street consensus sits at $4.12. Tunick noted the company was “highly likely” to guide below the Street consensus which is modeling for 10 percent EPS growth for the year.
Tunick noted mixed expectations for same-store sales which range from a decline of 2 percent to a gain of 3 percent, a struggling Japanese market, and an increase in SG&A spending for the lowered estimates.
Tunick said comparable sales below the 1-2 percent range could further damage the stock.
The JP Morgan analyst maintains an Overweight rating and $60 price target on shares of Coach.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in