Brokers Offer Predictions for Williams-Sonoma, Inc.’s Q3 2024 Earnings (NYSE:WSM)

Posted by Defense World Staff on May 27th, 2023

Williams-Sonoma, Inc. (NYSE:WSM – Get Rating) – Stock analysts at KeyCorp increased their Q3 2024 earnings estimates for Williams-Sonoma in a research note issued to investors on Tuesday, May 23rd. KeyCorp analyst B. Thomas now forecasts that the specialty retailer will post earnings of $3.58 per share for the quarter, up from their prior forecast of $3.19. The consensus estimate for Williams-Sonoma’s current full-year earnings is $13.30 per share. KeyCorp also issued estimates for Williams-Sonoma’s FY2024 earnings at $14.30 EPS.

Williams-Sonoma (NYSE:WSM – Get Rating) last posted its quarterly earnings results on Tuesday, May 23rd. The specialty retailer reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.23. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. Williams-Sonoma had a net margin of 12.07% and a return on equity of 72.68%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.50 earnings per share.

A number of other equities research analysts also recently issued reports on the stock. Citigroup reduced their price objective on shares of Williams-Sonoma from $127.00 to $123.00 in a research note on Thursday, May 18th. StockNews.com began coverage on shares of Williams-Sonoma in a report on Thursday, May 18th. They issued a “hold” rating for the company. Guggenheim restated a “neutral” rating on shares of Williams-Sonoma in a report on Tuesday, March 21st. Wedbush raised their price target on shares of Williams-Sonoma from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, March 9th. Finally, Loop Capital reduced their price objective on shares of Williams-Sonoma from $205.00 to $185.00 in a research report on Friday, March 17th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $127.18.

Williams-Sonoma Stock Performance

WSM stock opened at $113.61 on Friday. The company’s 50-day simple moving average is $117.55 and its 200 day simple moving average is $121.24. Williams-Sonoma has a 52 week low of $106.66 and a 52 week high of $176.89. The company has a market capitalization of $7.46 billion, a PE ratio of 7.46, a price-to-earnings-growth ratio of 0.86 and a beta of 1.61.

Institutional Investors Weigh In On Williams-Sonoma

Several institutional investors have recently modified their holdings of WSM. State Street Corp boosted its position in Williams-Sonoma by 2.1% in the first quarter. State Street Corp now owns 2,254,018 shares of the specialty retailer’s stock worth $274,224,000 after purchasing an additional 46,383 shares during the last quarter. First Trust Advisors LP raised its stake in Williams-Sonoma by 18.3% during the 4th quarter. First Trust Advisors LP now owns 1,539,856 shares of the specialty retailer’s stock valued at $176,960,000 after purchasing an additional 238,064 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Williams-Sonoma by 235.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,384,403 shares of the specialty retailer’s stock valued at $168,426,000 after buying an additional 971,370 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Williams-Sonoma by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 941,826 shares of the specialty retailer’s stock valued at $114,572,000 after buying an additional 24,280 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in Williams-Sonoma by 0.9% during the 1st quarter. Congress Asset Management Co. MA now owns 891,205 shares of the specialty retailer’s stock valued at $108,424,000 after buying an additional 8,000 shares in the last quarter. 99.49% of the stock is owned by hedge funds and other institutional investors.

Williams-Sonoma Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Friday, April 21st were paid a $0.90 dividend. This is a boost from Williams-Sonoma’s previous quarterly dividend of $0.78. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, April 20th. Williams-Sonoma’s dividend payout ratio is currently 23.65%.

Williams-Sonoma Company Profile

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Williams-Sonoma, Inc engages in the retailing of home products. It operates through the following segments: Pottery Barn, West Elm, Williams Sonoma, Pottery Barn Kids and Teen and Other. The Other segment includes net revenues from international franchise operations, Rejuvenation and Mark and Graham.