The firm said it lowered its numbers on the apparel and accessories company after Express reported its 2014 third quarter earnings results, and slashed its full year 2014 guidance.
BMO reduced its fourth quarter 2014 EPS estimate to 40 cents from 58 cents. BMO also cut its full year 2015 earnings estimate to 87 cents per share, from $1.15 per share.
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The firm said another reason it altered its numbers on Express is "in light of the Sycamore Partners' expressed interest in acquiring the company, Express did not repurchase shares or proceed with the refinancing of its 8 ¾ senior notes due 2018."
BMO has a $16 price target on Express stock, down from $20.
Shares of Express are up by 0.23% to $13.22 at the start of trading on Friday.
Separately, TheStreet Ratings team rates EXPRESS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXPRESS INC (EXPR) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and poor profit margins."