Analyst Actions: Whole Foods Market Estimates Lowered at Credit Suisse; Shares Tumble 9%
Credit Suisse analysts have lowered their earnings estimated for Whole Foods Market, Inc. (WMF)
"Whole Foods verified recent fears of a slowdown in its robust momentum, as the recent consumer weakness has begun to impact its sales and earnings trends," said Credit Suisse. "The gross margin also disappointed, as the company reported a smaller gain than expected in Q1 and guided to a decline over the remainder of the year."
The firm has lowered their 2013 EPS estimate to $2.83 from $2.85, and their 2014 EPS estimate to $3.26 from $3.36. The 2015 EPS estimate was alos lowered to $3.71 from $3.88.
Shares of WMF have plunged 9.3% to $87.89 in afternoon trading, and are within a 52-week range of $79.58 - $101.86.
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