Williams-Sonoma Analysts Boost Their Forecasts After Upbeat Q4 Earnings
Portfolio Pulse from Avi Kapoor
Williams-Sonoma, Inc. (NYSE:WSM) exceeded Q4 earnings expectations with a per-share earnings of $5.44 against estimates of $5.12, and sales of $2.28 billion versus the expected $2.23 billion. The company announced a 26% dividend increase and a new $1 billion stock repurchase program. FY24 revenue growth is projected between -3% to +3%. Following the earnings report, shares surged 17.8%. Analysts from Baird, Telsey Advisory Group, and Goldman Sachs adjusted their price targets and ratings for WSM.
March 14, 2024 | 12:39 pm
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Williams-Sonoma reported higher-than-expected Q4 earnings, increased dividends, and announced a new stock repurchase program. Analysts have raised price targets and upgraded ratings.
The positive earnings report, dividend increase, and stock repurchase program signal strong financial health and management confidence in Williams-Sonoma's future, likely leading to a positive short-term impact on the stock price. The upgrades and increased price targets by analysts further support this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100