Williams-Sonoma, Inc. to Post Q2 2023 Earnings of $3.69 Per Share, KeyCorp Forecasts (NYSE:WSM)

Williams-Sonoma, Inc. (NYSE:WSMGet Rating) – Equities researchers at KeyCorp reduced their Q2 2023 earnings estimates for shares of Williams-Sonoma in a research report issued on Thursday, May 26th. KeyCorp analyst B. Thomas now expects that the specialty retailer will post earnings per share of $3.69 for the quarter, down from their previous estimate of $3.73. KeyCorp also issued estimates for Williams-Sonoma’s Q3 2023 earnings at $3.85 EPS, Q4 2023 earnings at $5.60 EPS, FY2023 earnings at $16.62 EPS and FY2024 earnings at $17.10 EPS.

Williams-Sonoma (NYSE:WSMGet Rating) last released its quarterly earnings data on Wednesday, May 25th. The specialty retailer reported $3.50 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.60. Williams-Sonoma had a return on equity of 73.38% and a net margin of 13.66%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the company posted $2.93 EPS. The company’s revenue was up 8.1% compared to the same quarter last year.

Several other equities research analysts have also issued reports on WSM. Bank of America reduced their price objective on shares of Williams-Sonoma from $164.00 to $132.00 and set an “underperform” rating for the company in a research note on Wednesday, March 16th. Barclays decreased their price target on Williams-Sonoma from $219.00 to $186.00 in a research note on Friday, April 1st. Wedbush reduced their target price on Williams-Sonoma to $155.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Morgan Stanley lowered their price target on Williams-Sonoma from $170.00 to $160.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Telsey Advisory Group reduced their price objective on shares of Williams-Sonoma from $198.00 to $165.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Six analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $163.63.

Shares of NYSE:WSM opened at $130.00 on Friday. The firm has a 50 day simple moving average of $137.41 and a 200 day simple moving average of $156.78. Williams-Sonoma has a 52 week low of $101.58 and a 52 week high of $223.32. The company has a market cap of $9.10 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.53.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, April 22nd will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, April 21st. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. This is a boost from Williams-Sonoma’s previous quarterly dividend of $0.71. Williams-Sonoma’s dividend payout ratio (DPR) is 21.07%.

In other Williams-Sonoma news, Director Sabrina Simmons sold 5,000 shares of the business’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $164.11, for a total transaction of $820,550.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laura Alber sold 20,000 shares of the stock in a transaction on Monday, March 7th. The shares were sold at an average price of $152.04, for a total transaction of $3,040,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 27,030 shares of company stock valued at $4,173,666 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its holdings in Williams-Sonoma by 3.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,275 shares of the specialty retailer’s stock worth $892,000 after purchasing an additional 158 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Williams-Sonoma by 96.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,409 shares of the specialty retailer’s stock worth $2,437,000 after purchasing an additional 7,085 shares during the period. Raymond James & Associates boosted its stake in shares of Williams-Sonoma by 39.8% in the 4th quarter. Raymond James & Associates now owns 58,427 shares of the specialty retailer’s stock valued at $9,882,000 after purchasing an additional 16,622 shares during the last quarter. Balyasny Asset Management LLC increased its position in shares of Williams-Sonoma by 151.3% during the third quarter. Balyasny Asset Management LLC now owns 121,241 shares of the specialty retailer’s stock worth $21,500,000 after buying an additional 72,990 shares during the period. Finally, AGF Investments LLC raised its stake in Williams-Sonoma by 6.3% during the fourth quarter. AGF Investments LLC now owns 4,223 shares of the specialty retailer’s stock worth $714,000 after buying an additional 249 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Williams-Sonoma Company Profile (Get Rating)

Williams-Sonoma, Inc operates as an omni-channel specialty retailer of various products for home. It offers cooking, dining, and entertaining products, such as cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma Home brand, as well as home furnishings and decorative accessories under the Williams Sonoma lifestyle brand; and furniture, bedding, lighting, rugs, table essentials, and decorative accessories under the Pottery Barn brand.

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Earnings History and Estimates for Williams-Sonoma (NYSE:WSM)

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