Bloomberg the Company

Bloomberg Anywhere Login

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

Follow Us

Industry Products

Markets & Finance

Morgan Keegan Downgrades Haverty Furniture


Morgan Keegan downgraded Haverty Furniture (HVT) to underperform from market perform, citing the stock's valuation.

Analyst Laura Champine notes that the company's shares are up around 15% year to date. She anticipates only moderate earnings growth going forward, and says the company's 30 cents fourth quarter earnings per share (EPS) was a penny below the consensus and a penny above her estimate, due to items below the operating line. She ups her 12 cents first quarter earnings per share (EPS) estimate to 17 cents to reflect her reduced assumption for Selling General & Administrative expense as a percentage of revenue, but she lowers her 2.2% first quarter sales growth estimate to 1.5% due to one less store opening than initially expected. For 2006, she ups her 68 cents EPS estimate to 76 cents, but cuts her 5% sales growth estimate to 4%.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus