With the Christmas season enjoying a solid start, Kroger (NYSE:KR) has given a less than inspiring assessment of their core customer and growth guidance generates little enthusiasm for them.
Jefferies noted, "With the holiday season off to such a strong start, we were simply taken aback by management's somber assessment of the Kroger consumer and the huge variance in the company's guidance with only 8 weeks left in its 4Q11."
EPS estimates were lowered by Jefferies for full year 2011 from $1.83 to $1.74, and for 2012 from $2.18 to $1.98.
They maintain their "Buy" rating on Kroger, which closed Monday at $20.63, down $0.48, or 2.27 percent. Jefferies slashed their price target retailer from $28.50 to $26.
Tuesday, December 7, 2010
Kroger (NYSE:KR) Growth Rate Slower Than Expected
Labels:
Earnings,
EPS,
Jefferies and Company,
Kroger,
Price Target
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