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HBI

Hanesbrands

$17.16

-0.45 (-2.56%)

, SHLD

Sears

$0.00

(0.00%)

07:07
11/01/18
11/01
07:07
11/01/18
07:07

Hanesbrands tightens FY18 adj. EPS view to $1.69-$1.73, consensus $1.74

Tightens FY18 revenue guidance to $6.74B-$6.78B, consensus $6.76B. Hanes (HBI) has updated full-year financial guidance for 2018 to reflect year-to-date results, the bankruptcy of Sears Holdings, the strengthening dollar, and other factors. After the effect of the Sears (SHLD) bankruptcy and negative currency trends since the company's prior outlook, the updated guidance represents a tightening of previous ranges for net sales, operating profit and EPS. In addition to the $14 million Sears Holdings bad-debt charge, the updated guidance assumes no sales or profit contribution in the fourth quarter from Sears, which accounted for approximately 1 percent of total year-to-date company sales. Prior to the bankruptcy filing, Hanes had expected fourth-quarter sales of approximately $15 million and operating profit of approximately $5 million from Sears.

HBI

Hanesbrands

$17.16

-0.45 (-2.56%)

SHLD

Sears

$0.00

(0.00%)

  • 01

    Nov

HBI Hanesbrands
$17.16

-0.45 (-2.56%)

08/02/18
LEHM
08/02/18
DOWNGRADE
Target $19
LEHM
Equal Weight
Hanesbrands downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Chethan Mallela downgraded Hanesbrands to Equal Weight and lowered his price target for the shares to $19 from $22. The analyst sees a lack of visibility into the second half of the year following the company's Q2 results.
08/02/18
08/02/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hanesbrands (HBI) downgraded to Equal Weight from Overweight at Barclays with analyst Chethan Mallela saying he sees a lack of visibility into the second half of the year following the company's Q2 results. 2. Royal Dutch Shell (RDS.A) downgraded to Equal Weight from Overweight at Morgan Stanley. 3. Verisk Analytics (VRSK) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Arash Soleimani citing valuation. 4. People's Utah Bancorp (PUB) downgraded to Market Perform at Raymond James with analyst David Long citing valuation. 5. Wendy's (WEN) downgraded to Neutral ahead of Q2 report at Kalinowski with analyst Mark Kalinowski saying his checks indicate July same-store-sales are trending below the +1.5% level and were the worst checks since February 2012. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/02/18
08/02/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. OPCO UPGRADES TESLA TO OUTPERFORM: Oppenheimer analyst Colin Rusch upgraded Tesla (TSLA) to Outperform from Perform with a price target of $385 following Wednesday night's Q2 results. Gross margin performance on the Model 3 will carry the stock over the next 12-plus months, Rusch said. With higher volumes and slower spending, Tesla has "reached a critical inflection point in its development," the analyst added. He noted that despite some recent price pressure, Model S and X average selling prices have remained at relatively elevated levels. Rusch said he would not be surprised to see a similar scenario play out for the Model 3. SUNTRUST STARTS MAGNOLIA WITH A BUY: SunTrust analyst Neal Dingmann initiated Magnolia Oil & Gas (MGY) with a Buy rating and a price target of $18. The analyst noted that the company is a "unique E&P" with top-tier assets in the Eagle Ford and low leverage on its balance sheet. Dingmann is also positive on Magnolia's strong free cash flow and experience in transactions management. MORGAN STANLEY SAYS FERRARI SELLOFF A BUYING OPPORTUNITY: Morgan Stanley analyst Adam Jonas upgraded Ferrari (RACE) to Equal Weight from Underweight, stating that the stock's 10% selloff presents an opportunity to increase exposure with the stock now reflecting a more balanced assessment of the risks to the 2022 EUR2B EBITDA target. He raised his price target on Ferrari shares to $120 from $110. BARCLAYS CUTS HANESBRANDS: Barclays analyst Chethan Mallela downgraded Hanesbrands (HBI) to Equal Weight and lowered his price target for the shares to $19 from $22. The analyst sees a lack of visibility into the second half of the year following the company's Q2 results. WENDY'S CUT TO NEUTRAL: Kalinowski Equity Research analyst Mark Kalinowski downgraded Wendy's to Neutral from Buy ahead of the Q2 report on August 7. Kalinowski' checks indicate July same-store sales growth is trending below the 1.5% level and were the worst checks since February 2012. As a result, the analyst lowered his Q3 system-wide North American same-store sales growth forecast to a new consensus low of 1.5 from 2.5%. Kalinowski believes McDonald's (MCD) and Burger King, owned by Restaurant Brands (QSR), could become more "assertive" on promotions and discounting, making it difficult for Wendy's to right the ship.
10/23/18
STPT
10/23/18
INITIATION
Target $20
STPT
Buy
Hanesbrands initiated with a Buy at Standpoint Research
Standpoint Research analyst Ronnie Moas initiated Hanesbrands with a Buy and $20 price target.
SHLD Sears
$0.00

(0.00%)

10/12/18
MSCO
10/12/18
NO CHANGE
Target $1.5
MSCO
Equal Weight
Morgan Stanley sees near-term pressure, long-term gain for Penney if Sears folds
Amid recent headlines regarding Sears (SHLD) adding a restructuring expert and reportedly pursuing a bankruptcy filing, Morgan Stanley analyst Kimberly Greenberger noted that she believes J.C. Penney (JCP) had the highest store overlap with Sears, K-Mart, and Sears Specialty Stores within both a quarter mile and half mile radius. If Sears closes additional stores or engages in liquidation sales, retailers in the close trade areas could experience some short-term pressure, said Greenberger, who added that Sears has already been closing stores for years. In the medium to long-term, she expects J.C. Penney and other retailers in the respective trade areas to potentially benefit from these closures. Greenberger, who views Penney's near-term debt maturities as "manageable," keeps an Equal Weight rating and $1.50 price target on the shares.
10/12/18
MKMP
10/12/18
NO CHANGE
Target $31
MKMP
Neutral
L Brands visibility remains low despite better Sept comps, says MKM Partners
MKM Partners analyst Roxanne Meyer kept her Neutral rating and $31 price target on L Brands (LB), saying that while the company reported better than expected same store sales in September and its Victoria's Secret brand comps turned positive, its visibility remains low. The analyst lists potential catalysts for L Brands being a "strong performance of pajamas in Q4 and the reintroduction of swimwear" at VS, but also points to her "newest concern" being the likelihood of a Sears (SHLD) liquidation, which would then reduce traffic at malls where the company also has retail presence.
10/16/18
LOOP
10/16/18
NO CHANGE
Target $88
LOOP
Buy
Best Buy to be major beneficiary of likely Sears liquidation, says Loop Capital
Loop Capital analyst Anthony Chukumba kept his Buy rating and $88 price target on Best Buy (BBY) after Sears Holdings (SHLD) declared bankruptcy over the weekend, saying it should be a "major beneficiary" from the latter's eventual "likely" liquidation. The analyst estimates the liquidation could add as much as 47c or 8.5% accretion to Best Buy FY19 EPS, with the company picking up a "fair share" on the consumer electronics side of the business as the "last man standing" in terms of dedicated national brick-and-mortar retailers.
10/17/18
FBCO
10/17/18
NO CHANGE
Target $125
FBCO
Outperform
Whirlpool price target lowered to $125 from $175 at Credit Suisse
Credit Suisse analyst Susan Maklari lowered her price target for Whirlpool (WHR) to $125 from $175 to reflect continued pressures from inflation and reduced overhead leverage. While international challenges continue to drag on results, pricing in North America could help provide a necessary offset, she contends. The analyst notes that Sears' (SHLD) Chapter 11 filing should result in few changes in long-term appliance trends, though there could be some near-term choppiness as 142 additional stores are closed and liquidated. Maklari reiterates an Outperform rating on Whirlpool shares.

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ATU

Actuant

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Citrix

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DLX

Deluxe

$43.31

0.08 (0.19%)

08:40
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SHLX

Shell Midstream

$19.73

0.19 (0.97%)

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AZPN

Aspen Technology

$89.08

0.22 (0.25%)

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INO

Inovio

$4.78

-0.21 (-4.21%)

, MRK

Merck

$75.43

-0.42 (-0.55%)

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MRK

Merck

$75.43

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BMY

Bristol-Myers

$49.92

0.21 (0.42%)

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F

Ford

$8.34

-0.17 (-2.00%)

08:38
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Periodicals
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DLX

Deluxe

$43.31

0.08 (0.19%)

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PCG

PG&E

$8.03

0.3 (3.88%)

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DLX

Deluxe

$43.31

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WTBA

West Bancorp

$20.09

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AAL

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UTX

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FMBH

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CTRA

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SPA

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POL

PolyOne

$31.07

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