B.Riley FBR Issues a Hold Rating on Express

By Austin Angelo

In a report released today, Susan Anderson from B.Riley FBR assigned a Hold rating to Express (NYSE: EXPR), with a price target of $7. The company’s shares closed yesterday at $9.22.

Anderson commented:

“EXPR (Neutral, $7.00 PT) reported 3Q17 adj. EPS of $0.08, vs. B. Riley FBR/consensus of $0.07/ $0.08 and guidance of $0.06–$0.10. SSS were –1% (B. Riley FBR/consensus of –2.0%/–2.2%) vs. –LSD guidance. GM de-leveraged –20 bps (B. Riley FBR/consensus of +20 bps/+44 bps), while SG&A de-leveraged –60 bps (B. Riley FBR/consensus –100 bps/–17 bps). Management guided 4Q17 EPS to $0.40–$0.44 (vs. B. Riley FBR/consensus of $0.37/$0.41). For 2017, EXPR narrowed EPS guidance to $0.43 –$0.47 from $0.41–$0.48 previously (vs. B. Riley FBR/consensus of $0.43/ $0.44). For SSS, EXPR guided 4Q17 to +LSD (vs. B. Riley FBR/consensus of +3.0%/+2.2%) and reiterated 2017 at –LSD (vs. B. Riley FBR/consensus of –2.7%/–3.1%).”

According to TipRanks.com, Anderson is a 4-star analyst with an average return of 4.7% and a 59.0% success rate. Anderson covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Ascena Retail Group, and Abercrombie Fitch.

Express has an analyst consensus of Hold, with a price target consensus of $6.67.

Based on Express’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $479 million and GAAP net loss of $11.8 million. In comparison, last year the company earned revenue of $506 million and had a net profit of $11.62 million.

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Express, Inc. engages in the retail of specialty apparel, and accessories for both women and men. It offers products which address fashion needs across lifestyles, work, casual, jeanswear, and going-out occasions. The company was founded in 1980 and is headquartered in Columbus, OH.