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Consumer Sector Update for 09/06/2017: HOME,FRED,PLAY

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Consumer stocks were mostly higher Wednesday, with shares of consumer staples companies in the S&P 500 posting a nearly 0.4% gain while shares of consumer discretionary firms in the S&P 500 were increasing more than 0.7%.

In company news, shares of the At Home Group ( HOME ) fell sharply on Wednesday, giving back a moderate rise soon after the start of today's trading session and sinking over 17% to a session low of $21.17 a share despite the home decor retailer last night beating year-ago comparisons as well as Wall Street expectations with its Q2 financial results.

Excluding one-time items, the company earned $0.18 per share during the three months ended July 29, improving on a $0.13 per share non-GAAP profit during the same quarter last year and topping the Capital IQ consensus by $0.01 per share. Revenue grew 23% over year-ago levels to $232.1 million, also exceeding the $227.06 million analyst mean.

For FY18, the company is projecting non-GAAP earnings in a range of $0.73 to $0.75 per share on between $916 million to $923 million in net sales, up from its prior guidance expecting $906 million to $913 million in net sales this year. Analysts, on average, are expecting the company to earn $0.75 per share, excluding one-time items, on $915.45 million in sales.

In other sector news,

(+) FRED, Reports non-GAAP Q2 net loss of $0.15 per share, beating the Capital IQ consensus expecting a $0.19 per share adjusted loss. Net sales fall to $507.8 mln from $529.5 mln last year but still exceeding the $507.9 mln analyst mean.

(-) PLAY, Canaccord Genuity lowers price target by $3 to $72 a share, also reiterating their Buy rating for the stock.

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

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

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