Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Piper Jaffray Keeps Outperform on Abercrombie & Fitch


Abercrombie & Fitch (ANF) posts 63 cents, vs. 44 cents second-quarter earnings per share. Piper Jaffray maintains outperform rating and cuts earnings estimates.

Analyst Jeffrey Klinefelter says the company reported lower-than-expected second-quarter EPS, and gross margin fell short of last year's 70%. He believes fiscal year 2006 (January) management guidance of $2.7 billion revenue is bullish, yet its EPS guidance increase to $3.10-$3.30 is still short of the consensus EPS estimate of $3.38.

Klinefelter raises fiscal year 2006 revenue estimate to $2.63 billion from $2.55 billion, and fiscal year 2007 revenue to $3.04 billion from $2.96 billion.

He cuts fiscal year 2006 EPS estimate to $3.30 from $3.38, and fiscal year 2007 to $3.90 from $4.00 to account for higher store expenses. He also reduces price target to $78 from $88.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus