Equities researchers at Piper Jaffray (NYSE: PJC) cut their target price on shares of Guess (NYSE: GES) from $34.00 to $29.00 in a report issued on Wednesday.
The analysts wrote, “We are reiterating our Neutral rating following the Q1 earnings report. Despite Q2 EPS guidance coming in approx. 20% below consensus expectations, management’s FY13 EPS guidance of $2.50-$2.65 remains unchanged. Our model revisions reflect lackluster trends in Europe in particular and margin pressure over the next two quarters tied to deleverage of expenses owing in part to the soft top-line trends and in part due to incremental marketing spend.”
Guess traded up 4.58% on Wednesday, hitting $25.56. Guess has a 1-year low of $24.23 and a 1-year high of $45.73. The company has a market cap of $2.293 billion and a price-to-earnings ratio of 8.55.
Guess last released its earnings data on Tuesday, May 22nd. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.03. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts expect that Guess will post $0.66 EPS next quarter.
GES has been the subject of a number of other recent research reports. Analysts at Brean Murray raised their price target on shares of Guess from $35.00 to $37.00 in a research note to investors on Wednesday. Finally, analysts at Standpoint Research initiated coverage on shares of Guess in a research note to investors on Friday, May 11st. They set a “buy” rating on the stock.
Guess?, Inc. (GUESS?), designs, markets, distributes and licenses apparel and accessories for men, women and children.
