Kohl’s (KSS) Stock Price Target Cut at Nomura
NEW YORK (TheStreet) -- Kohl's (KSS) - Get Report stock price target was lowered to $46 from $52 at Nomura on Friday morning. The firm has a "buy" rating on the stock.
The new price target comes after the Menomonee Falls, WI-based department store reported weaker-than-expected results for the 2016 first quarter yesterday.
The company reported adjusted earnings per share of 31 cents, missing analysts' estimates of 37 cents per share. Revenue for the period was $3.97 billion, which did not meet analysts' projections of $4.13 billion.
Same-store sales fell by 3.9%, below Nomura's expectations for flat same-store sales.
During the quarter, transactions per store declined by 4.8%, the firm added.
But, "online demand increased at a mid-teens rate and national brands continue to perform well, slightly positive on a comp basis, led by active and wellness," Nomura wrote in a note.
Shares of Kohl's are dropping by 1.31% to $34.69 in pre-market trading on Friday.
(Kohl's is held in the Dividend Stock Advisor Portfolio. See all of the holdings with a free trial here.)
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures.
The team feels its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: KSS
