Dollar General Market Share Loss To Walmart Is ‘Opposite Of What Historically Happens’ When Consumers Stress: Analyst (UPDATED)
Editor’s note: This story has been updated with additional details on Dollar General stock price action.
Shares of Dollar General Corp (NYSE:DG) tanked Thursday after the company reported second-quarter earnings at $1.70 per share, missing the Street expectations of $1.79 per share.
Five analysts provided their takeaways following the report:
- JPMorgan analyst Matthew Boss reiterated a Neutral rating, while reducing the price target from $130 to $97.
- Truist Securities analyst Scot Ciccarelli reaffirmed a Hold rating, while reducing the price target from $130 to $94.
- BMO Capital Markets analyst Kelly Bania maintained a Market Perform rating, while cutting the price target from $130 to $90.
- Goldman Sachs analyst Kate McShane maintained a Buy rating and price target of $122.
- Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating and price target of $168.
Check out other analyst stock ratings.
JPMorgan: Boss said the earnings miss was on account of the company’s same-store sales coming in short of the consensus, he added.
“The last week of each month in the quarter represented the 3 softest weeks pointing to an extended payroll cycle for the low-end consumer,” the analyst wrote. Management lowered their full-year earnings guidance by around 18% to $5.55-$6.20 per share, …
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