New Zealand's Warehouse Group rises; Macquarie cuts PT, EPS estimates

Warehouse

19/03/2024 01:19

** Shares of Group  WHS.NZ  rise as much as 1.5% to NZ$1.40,
their highest since Feb 28
    ** Analysts at Macquarie reduce price target for Warehouse
to NZ$1.35 from NZ$1.74
    ** Downgrades earnings per share estimates for the general
merchandise retailer by 27%, 21% and 24% for FY24, FY25 and
FY26, respectively
    ** Expects WHS to report negative sales growth, higher costs
and limited ability to control the controllables
    ** Avg rating of four analysts, including Macquarie, is an
equivalent of "hold"; their median PT is A$1.42 - LSEG data
    ** Stock has fallen 14.3% this year, as of last close

    

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))