Five Below Soars 10% — Here’s Why.
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Shares of Five Below are up 10%, or by $21.53 a share, on strong earnings and guidance. In the fourth quarter, revenue of $1.73 billion was above estimates of $1.7 billion. Adjusted EPS of $4.31 was above estimates of $3.98.
“With a growing store base, strong new store performance, and a differentiated customer value proposition, we believe we are well positioned to drive sustainable sales growth, margin expansion, and long-term shareholder value,” said Winnie Park, CEO of Five Below.
Looking ahead, the company expects revenue to range from $1.18 billion to $1.2 billion, as compared to estimates of $1.1 billion. It also forecast adjusted EPS of between $1.57 and $1.69, as compared to estimates of 98 cents.
Wells Fargo reiterated an Overweight rating and raised the price target to $260.
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Analysts at JPMorgan just cut their price target on the S&P 500, noting that the oil price shock has not been priced into the market. In fact, the firm just cut its year-end target for the index to 7,500 from 7,200 on the “geopolitical overhang.”
“JPMorgan warned that if the S&P 500 selloff extends below the 200-day moving average of approximately 6,600, strong support may not emerge until the index reaches the 6,000 to 6,200 range,” added Investing.com.
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Shares of Micron are down 5.6%, or by $26 a share, even with impressive earnings.
EPS of $12.20 beat by $3.54. Revenue of $23.86 billion, up 196.4% year over year, beat by $4.56 billion. Analysts were looking for EPS of $8.66 on revenue of $19.74 billion. The company also declared a quarterly dividend of 15 cents per share, which is payable on April 15 to shareholders of record as of March 30.
“Micron is a strong buy. We can see it earning around $40 in the current fiscal year, growing to at least $50. If we apply a 10–15x price-to-earnings ratio, there is still meaningful upside based on that valuation approach,” said Hendi Susanto, portfolio manager at Gabelli Funds, according to Barron’s.
Unfortunately, stock is down because supply is so tight; it can supply only a fraction of what its key customers need.
Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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