Ollie's Bargain Outlet Analysts Increase Their Forecasts Following Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) reported higher than expected earnings for Q3, with a 14.8% Y/Y sales increase to $480.05 million and adjusted EPS of 51 cents, surpassing the consensus of 44 cents. The company raised its FY23 net sales and adjusted EPS outlook, but shares fell 3.1% following the announcement. UBS and RBC Capital increased their price targets on OLLI, maintaining Neutral and Outperform ratings respectively.
December 07, 2023 | 5:48 pm
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NEGATIVE IMPACT
Ollie's Bargain Outlet exceeded Q3 earnings expectations and raised FY23 guidance, but its stock price declined by 3.1% post-announcement.
While Ollie's reported strong earnings and raised guidance, the stock price fell, possibly due to market expectations being even higher or profit-taking. The positive adjustments in price targets by UBS and RBC Capital may indicate a belief in the company's long-term value, but the immediate market reaction was negative.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100