By Michele Maatouk
Date: Wednesday 27 Mar 2024
LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets cut its price target on Dr Martens on Wednesday to 85p from 100p as it lowered its estimates for FY24-26 earnings per share by 7% to 10%.
The bank said Dr Martens should be able to deliver on materially lower guided and consensus expectations for FY24, due 30 May.
The bank said Spring/Summer shipment timings could be a swing factor, however it believes Q4 DTC trends will be an important data point as well as FY25.
RBC said it expects the company's FY25 guidance to strike a "cautious tone". It expects revenue guidance of 'mid-single digit' and an EBITDA guidance range of £200m to £210m, which implies mid-high single-digit growth year-on-year.
RBC rates the shares at 'sector perform'.
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Currency | UK Pounds |
Share Price | 76.30p |
Change Today | 3.60p |
% Change | 4.95 % |
52 Week High | 171.20 |
52 Week Low | 67.00 |
Volume | 14,894,846 |
Shares Issued | 961.88m |
Market Cap | £733.91m |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | 04-Jan-24 | 08-Jun-23 |
Paid | 02-Feb-24 | 18-Jul-23 |
Amount | 1.56p | 4.28p |
Time | Volume / Share Price |
15:58 | 11 @ 76.00p |
16:22 | 72 @ 75.95p |
16:12 | 11 @ 75.90p |
10:17 | 6,762,688 @ 70.45p |
10:17 | 6,762,688 @ 70.45p |
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