Staples Posts Weak Q1 Results, Misses Estimates
Автор: FinancialNewsOnline
Загружено: 2011-05-18
Просмотров: 35
Описание:
Staples Inc (NASDAQ:SPLS) reported Q1 EPS of $0.28 today, coming in short of the consensus estimate for $0.32 per share. Revenues for the quarter grew 2% year-over-year to $6.17 billion, just under the consensus estimate for $6.19 billion.
Ron Sargent, Staples' chairman and chief executive officer said, "Our first quarter results show that we're making good progress on our key growth initiatives and we're gaining share in North America, but at a cost to our bottom line." The company sees Q2 sales flat, and EPS on a GAAP basis in the range of range of $0.18 - $0.20. For full year 2011, they expect sales to increase in the low single digits compared to 2010 and estimate EPS on a GAAP basis in the range of $1.35 to $1.45.
Staples has a potential upside of 26.8% based on a current price of $19.65 and an average consensus analyst price target of $24.92.
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