Stage Stores (NYSE:SSI) Earnings Outlook Improved on Share Buyback, Holidays

Saying the holiday season looks optimistic for Stage Stores (NYSE:SSI), and coupled with the share repurchase by the company, Barclays raised their earnings on the company for 2011, while maintaining an "Equalweight" on them.

Barclays said, "The balance sheet remains solid: The quarterly dividend increased by 50% effective in September and 1.7 million shares of stock were repurchased for a total of $20.4 million...Given the share repurchase and a more optimistic holiday outlook, we are increasing our 2010 and 2011 EPS estimates to $0.92 and $1.05 from $0.90 and $1.00, respectively: We are also establishing our 2012 EPS estimate of $1.15."

Andy Hall, President and Chief Executive Officer, also said in the quarterly report he sees same-store sales rising from 1 percent to 3 percent in the fourth quarter.

Stage Stores closed Friday at $14.15, falling $0.22, or 1.53 percent. Barclays has a price target of $14 on them.