Wedbush Securities has published a research report on Big 5 Sporting Goods BGFV after the company reported a 1q EPS miss.
In the report, Wedbush writes "BGFV reported Q1 EPS of 13¢ vs. our 17¢ estimate and consensus of 19¢. The miss came from the expense line (-6¢ vs. our model) as employee benefit costs unexpectedly ballooned by $1.5m. The challenging macro environment (rising gas prices, high unemployment), coupled with expectations that Q1 expense issues were not one-time in nature, led to Q2 guidance significantly below expectations (6¢-14¢ vs. consensus of 23¢). After a series of earnings misses, we expect the shares to be under pressure until the company can demonstrate consistent comp growth and expense control."
Wedbush maintains its Neutral rating and has lowered the price target from $13 to $11.
Big 5 Sporting Goods closed yesterday at $11.77.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorPrice TargetAnalyst RatingsBig 5 Sporting GoodsConsumer DiscretionarySpecialty StoresWedbush Securities
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