Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

These Analysts Revise Their Forecasts On Ollie's Bargain Outlet Following Q4 Results

Published 21/03/2024, 19:03
© Reuters.  These Analysts Revise Their Forecasts On Ollie's Bargain Outlet Following Q4 Results
OLLI
-

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

Ollie’s Bargain Outlet Holdings Inc (NASDAQ: OLLI) reported better-than-expected earnings for its fourth quarter on Wednesday.

The company reported fourth-quarter FY23 sales growth of 18% year-on-year to $648.9 million, missing the analyst consensus estimate of $649.378 million. Comparable store sales increased 3.9% compared to a 3% increase last year.

Adjusted EPS of $1.23 beat the analyst consensus of $1.16, according to data from Benzinga Pro.

Ollie's Bargain Outlet said it sees FY24 adjusted EPS of $3.10 – $3.20, against the consensus of $3.21. The company expects FY24 sales of $2.248 billion – $2.273 billion versus the Street view of $2.294 billion. The company sees comparable store sales to increase 1% – 2%.

Ollie's Bargain Outlet shares gained 4.9% to trade at $80.03 on Thursday.

These analysts made changes to their price targets on Ollie's Bargain Outlet following earnings announcement.

  • JP Morgan cut the price target on Ollie's Bargain Outlet from $88 to $85. JP Morgan analyst Matthew Boss maintained a Neutral rating.
  • Goldman Sachs boosted the price target on Ollie's Bargain Outlet from $91 to $104. Goldman Sachs analyst Kate McShane maintained a Buy rating.
  • Craig-Hallum increased the price target on Ollie's Bargain Outlet from $98 to $100. Craig-Hallum analyst Jeremy Hamblin maintained a Buy rating.
  • Truist Securities boosted the price target on Ollie's Bargain Outlet from $78 to $80. Truist Securities analyst Scot Ciccarelli maintained a Hold rating.

Now Read This: Top 3 Tech Stocks That Could Lead To Your Biggest Gains In March

Latest Ratings for OLLI

DateFirmActionFromTo
Mar 2022Wells FargoMaintainsEqual-Weight
Jan 2022RBC CapitalDowngradesOutperformSector Perform
Jan 2022Truist SecuritiesInitiates Coverage OnHold
View More Analyst Ratings for OLLI

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.