Inside the Market’s roundup of some of today’s key analyst actions
), according to Credit Suisse analyst Joo Ho Kim, who lowered his expectations for the remainder of fiscal 2023 as well as 2024.
“Taking it all together, although we do model some conservatism in our near-term forecast, we continue to like NA’s defensive positioning, given the balance sheet strength and favorable mix.”The quarterly miss and the expectation for lower trading revenue in the fourth quarter led Mr. Kim to lower his 2023 core cash EPS estimate by 3 per cent to $9.43. His 2024 estimate declined by 2 per cent to $9.78.
Mr. Shreedhar is forecasting earnings per share for the discount retailer’s second quarter of fiscal 2024 of 78 cents, a penny above the consensus estimate on the Street and up 12 cents from the same period a year ago. He said that 18.0-per-cent year-over-year growth stems from “mid-teens revenue growth , share repurchases over the last 12 months and gross margin expansion, partly offset by higher SG&A.
“We note Dollar Tree’s upwardly revised sales and sssg expectations in its Q2/F23 earnings release, reflecting expectations of improved sales performance. We view this to be a constructive sales readthrough to Dollarama.”
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