Courtesy of Benzinga.
Investors in Kohl’s Corporation (NYSE: KSS) saw some very mild relief over Monday’s trading session. After plunging nearly 18 percent on Thursday of last week amid lowered fiscal year 2016 guidance, the stock rebounded more than a percent Monday.
UBS analyst Michael Binetti issued a research note early Monday morning, certainly not helping bulls in the stock.
The analyst, in the title of the note, questioned, “Was KSS 4Q Guide Down Weather or a Signal About Longer-Term Trends?”
Binetti reduced his fourth-quarter EPS estimate from $1.95 to $1.58 and his FY15 estimate from $4.37 to $4 even. The analyst consensus estimate shows analysts have modeled for quarterly earnings of about $1.57 per share and FY15 EPS around $4.03.
Reflecting the lowered earnings estimates, Binetti trimmed his price target on shares of Kohl’s from $49 to $45.
“We believe KSS ended 4Q with high inventories, which will likely further pressure 1Q16—which, in combination with a slow exit rate from January, will likely lead to a more conservative and back-weighted FY16 EPS guide,” according to Binetti.
Latest Ratings for KSS
Date | Firm | Action | From | To |
---|---|---|---|---|
Feb 2016 | Atlantic Equities | Downgrades | Neutral | Underweight |
Feb 2016 | Nomura | Maintains | Buy | |
Feb 2016 | MKM Partners | Downgrades | Buy | Neutral |
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