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American Outdoor Brands Corp (NASDAQ:AOBC) will announce its fourth-quarter earnings on June 29, expected to be in line with guidance and consensus estimates.
Wunderlich analyst Rommel Dionisio also expects the company to announce initial fiscal 2018 guidance.
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Dionisio reiterated a Hold rating and $22 price target.
Q4 And 2018 Expectations
The analyst forecast sales of $215 million and an EPS of $0.36. Consensus estimates $211 million in sales and a $0.37 EPS.
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A low-single-digit decline in sales will reflect current inventory de-stocking trends, which had previously bloated as a result of the presidential election.
This inventory reduction is largely the result of recent bankruptcies and consolidations in the outdoor and sporting goods sector.
Sports Authority, Sports Chalet, MC Sports and Gander Mountain have all recently gone bankrupt, while Sears Holdings Corp (NASDAQ:SHLD) and Cabelas Inc (NYSE:CAB) are facing store closures.
Although most firearms and accessories distributors are expecting inventory levels to normalize by the fall, Dionisio believes the currently elevated levels, combined with an aggressive promotional environment and competitive pistol product introductions, will stifle bullish sentiments looking toward 2018.
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Off Target? Gun Stocks Down Over Weak Firearm Background Check Data__________Image Credit: By lifesizepotato from San Antonio, TX - web7, Public Domain, via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.