Ollie's Bargain Outlet gains on forecast raise, Q2 results beat

Ollie's Bargain Outlet Holdings

31/08/2023 13:11

** Shares of discount chain Ollie's Bargain Outlet  OLLI.O 
rise 2.1% to $76.45 premarket
    ** Co forecasts FY23 net sales between $2.08 bln - $2.09 bln
vs its prior forecast of $2.05 bln - $2.07 bln; analysts expect
$2.06 bln - Refinitiv 
    ** OLLI sees FY adjusted earnings per share in the range of
$2.65 to $2.74 vs $2.56 to $2.65 projected earlier; analysts on
average estimate adjusted earnings of $2.62/share  
    ** Q2 revenue increased 13.7% to $514.5 mln, beating ests of
$499 mln - Refinitiv 
    ** Q2 adj. EPS of $0.67 tops analysts ests of $0.61
    ** Eight of 15 brokerages rate the stock "buy" or higher,
six "hold" and 1 "strong sell"; their median PT is $73
    ** Up to Wednesday's close, stock had risen 59.9% YTD

 (Reporting by Khushi Singh; Editing by Shweta Agarwal)
 ((Khushi.Singh@thomsonreuters.com;))