These Analysts Revise Their Forecasts On Oxford Industries Following Q4 Results
Portfolio Pulse from Avi Kapoor
Oxford Industries, Inc. (NYSE:OXM) reported Q4 results below market expectations and provided weak guidance for Q1 and FY24. Adjusted earnings were $1.90 per share on sales of $404.40 million, missing estimates. FY24 earnings guidance is $9.30 to $9.70 per share with revenue expectations of $1.63 to $1.67 billion, both below market estimates. Shares fell 4% to $107.90. Analysts from Telsey Advisory Group, UBS, and Citigroup adjusted their price targets and ratings post-earnings.
April 01, 2024 | 6:51 pm
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NEGATIVE IMPACT
Oxford Industries reported lower than expected Q4 results and issued weak guidance for Q1 and FY24, leading to a 4% drop in shares.
The negative earnings report and weak future guidance directly impact investor sentiment and stock price. The 4% drop in shares post-announcement indicates immediate market reaction. Analysts' adjustments in price targets and ratings further validate the expected negative short-term impact on OXM's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100