The athletic apparel retailer reported first-quarter earnings Friday of $15 million, or 28 cents a share, up from year-earlier earnings of $12 million, or 23 cents a share. Analysts, on average, expected earnings to be 25 cents a share."Cleaner inventories reduce a major risk but expense timing pushes EPS out to 4Q," Jefferies analysts wrote in a report Friday. "We are incrementally more positive but would not chase. Shares of Under Armour hit a 52-week high of $101.43 on Friday. The stock's 52-week low of $52.62 was set on Aug. 19. Under Armour's forward P/E is 33.75; the average for clothing and accessories companies is 16.27. For comparison, Columbia Sportswear (COLM) has a lower forward P/E of 13.87. Nineteen of the 30 analysts who cover Under Armour rated it hold. Ten analysts gave the stock a buy rating and one rated it sell. TheStreet Ratings gives Under Armour a B grade with a buy rating and $124.79 price target. The stock has risen 41.62% year to date.
PNC Financial The bank reported Wednesday first-quarter earnings of $811 million, or $1.44 a share, up from year-earlier earnings of $493 million, or 85 cents. "We reiterate our Buy rating on PNC post 1Q12 earnings," Bank of America Merrill Lynch analysts wrote in a report Wednesday. "Shares of PNC have underperformed the BKX by 12pp YTD. However, we expect this trend to reverse as the market doesn't seem to appreciate: 1) positive momentum from legacy PNC, with commercial loans up 15% sequential annualized ex. RBC; 2) solid EPS accretion from the RBC deal; and 3) that PNC is likely on the sidelines in the M&A arena for the next 12-18mos as it rebuilds Basel III capital ratios." Shares of PNC Financial hit a 52-week high of $64.99 on Friday. The stock's 52-week low of $42.70 was set on Aug. 23. PNC Financial's forward P/E is 9.51; the average among its peers is 10.73. For comparison, Bank of New York Mellon (BK) has a lower forward P/E of 9.2. Twenty-three of the 28 analysts who cover PNC Financial rated it buy. Four analysts gave the stock a hold rating and one rated it sell. TheStreet Ratings gives PNC Financial a B+ grade with a buy rating and $73.24 price target. The stock has risen 12.95% year to date.
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