Consumer Sector Update for 06/30/2017: AOBC,WMAR,DEST

Shutterstock photo

Top Consumer Stocks

WMT -0.11%

MCD +0.31%

DIS +0.77%

CVS +0.47%

KO +0.46%

Consumer stocks continued to add to their Friday advance, with shares of consumer staples companies in the S&P 500 rising about 0.4% this afternoon while shares of consumer discretionary firms in the S&P 500 jumped out to more than an 0.8% increase.

In company news, American Outdoor Brands ( AOBC ) stumbled Friday, falling as much as 10.5% to a session low of $21.41 a share after the firearms manufacturer issued Q1 and FY18 guidance trailing analyst projections and upstaging above-consensus financial results for the final three months of its recently concluded fiscal year.

Excluding one-time items, the company is expecting per-share earnings in a range of $0.07 to $0.12, trailing the Capital IQ consensus looking for a $0.31 per share quarterly profit. It also sees net sales for the three months ending late next month coming in between $140 million to $150 million. Analysts, on average, are modeling $179.60 million in Q1 sales.

For FY18, American Outdoor is projecting net sales of $750 million to $790 million compared with the $832.5 million analyst mean. It also forecast non-GAAP net income this year of $1.42 to $1.62 per share, in-line with $1.62 per share consensus.

The company last night also reported Q4 non-GAAP earnings of $0.57 per share and a 3.7% sales increase to $229.2 million, topping the Street view looking for $0.38 per share on $210.82 million in net sales.

In other sector news,

(+) WMAR, Agrees to $338 mln private-equity buyout offer, with Monomoy Capital Partners paying $12.97 in cash for each West Marine share, a 32% premium over their average price during the past 30 days.

(-) DEST, Merger partner Orchestra Premaman reports a FY17 net loss of EUR33.6 mln, reversing a EUR17.7 mln profit for French retailer during the prior-year period. Net sales rise 8.7% to EUR608.3 mln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Business , Commodities
Referenced Symbols: AOBC , DEST

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?