For Immediate Release
Chicago, IL – May 1, 2012 – Zacks.com announces the list of
stocks featured in the Analyst Blog. Every day the Zacks Equity
Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the
blog include Big 5 Sporting Goods
Corp. (BGFV), Kinder Morgan Energy
Partners LP (KMP), Kohlberg Kravis Roberts
& Co. (KKR), El Paso Corp. (EP)
and Kinder Morgan Inc. (KMI).
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Here are highlights from Monday’s Analyst
Blog:
Earnings Preview: Big 5 Sporting
Goods
Sporting products retailer Big 5 Sporting Goods
Corp. (BGFV) is scheduled to report its first-quarter
2012 financial results after the market closes on May 1, 2012. The
current Zacks Consensus Estimate for the quarter is 3 cents per
share. For the quarter under review, revenue is expected to be $221
million, according to the Zacks Consensus Estimate.
Guidance for Fiscal 2012
For the first quarter of 2012, management expects earnings per
share to range from break-even to 6 cents per share compared with
13 cents per share in the first quarter of fiscal 2011. Same store
sales are pegged in the negative low-single digit range.
The company’s outlook for first quarter is based on expectations
of merchandising margins, which continue to struggle due to impacts
of higher promotional and product costs, as well as shift in the
product sales mix resulting from unfavorable winter weather.
Looking ahead, Big 5 targets to open nearly 10 new stores and
relocate about 7 stores during fiscal 2012.
Zacks Consensus
The analyst covered by Zacks expects Big 5 to post first-quarter
2012 earnings of 3 cents a share, lower than 13 cents delivered in
the prior-year quarter. Currently, the Zacks Consensus Estimate
ranges between earnings of 2 cents and 6 cents a share.
For fiscal 2012, the Zacks Consensus Estimate stood at 61 cents
per share, higher than its previous fiscal earnings of 46 cents.
The current Zacks estimate ranges between 44 cents and 75 cents per
share.
Agreement of Estimates
In the last 7 and 30 days, no movement in estimates has been
noticed in either direction, either for first-quarter 2012 or
fiscal 2012.
Magnitude of Estimate Revisions
In the last 30 days, the Zacks Consensus Estimates for
first-quarter as well as for fiscal 2012 has been lowered by a
penny to 3 cents and 61 cents per share.
Surprise History
With respect to earnings surprises, Big 5 has missed as well as
topped the Zacks Consensus Estimate over the last four quarters in
the range of negative 31.6% to positive 60%. The average remained
at positive 28.1%, indicating that Big 5 has missed the Zacks
Consensus Estimate by that measure in the trailing four
quarters.
Our Recommendation
Big 5 Sporting is in midst of its store expansion strategy in
the emerging markets. During the period of recession in 2009, the
company slowed down its store expansion program. Big 5 have now
resumed its strategy of store expansion, which we believe will
boost its top and bottom line in future. Looking ahead, Big 5
targets to open nearly 10 new stores and will relocate about 7
stores in fiscal 2012.
Further, Big 5 Sporting is introducing a business intelligence
system, which will help in making decision for merchandising and
assortment selection at the store level. Moreover, the company has
opened a new distribution center in Oregon, which will service
about 75 stores in Pacific Northwest. The new distribution channel
is expected to save about $800,000 in transportation expense
annually.
Kinder Morgan to Buy KKR JV Stake
Natural gas pipeline operator Kinder Morgan Energy
Partners LP (KMP) has entered into an agreement with
a private equity and venture capital firm, Kohlberg
Kravis Roberts & Co. (KKR) to purchase the latter’s
50% interest in a joint-venture for $300 million.
The joint-venture was originally formed by Kohlberg Kravis
Roberts & Co. (hereafter referred to as KKR) and
Houston-based El Paso Corp. (EP) in the
latter half of 2010. KKR had paid $125 million to secure a 50%
stake in Altamont assets and Camino real gathering system.
The deal is expected to close by the end of next month,
following the completion of the El Paso takeover
by Kinder Morgan Inc. (KMI), for $21.1
billion. Kinder Morgan Inc. – which owns the general partner
interest and incentive distribution rights of Kinder Morgan Energy
Partners – will have a 100% stake in the joint venture following
the finalization of the deal.
The Altamont asset comprises 1,100 miles of pipeline
infrastructure, natural-gas processing capacity of 60 million cubic
feet per day, natural-gas liquid-fractionation capacity of 5,600
barrels per day and 450 well connections with producers. On the
other hand, Camino Real Gathering System consists of oil gathering
capacity of 110,000 barrels per day together with gas gathering
capacity of 150 million cubic feet per day.
Houston-based Kinder Morgan Energy Partners L.P is the largest
independent owner and operator of petroleum- product pipelines in
the U.S. Founded in 1992, its pipelines transport natural gas,
refined petroleum products, crude oil, carbon dioxide and other
products, while its terminals store petroleum products and
chemicals and handle bulk materials such as coal and petroleum
coke.
It owns or operates more than 29,000 miles of pipeline and
approximately 180 terminals. The terminals store petroleum products
and chemicals, besides handling bulk materials such as coal and
petroleum coke.
Founded in 1976, New York-based KKR is a leading investment firm
which manages $59.0 billion worth of assets on behalf of its
investors as of last year-end. The company uses its operational
efficiencies and expertise knowledge to provide best results to its
portfolio group and is engaged in various activities related to
acquisitions, leverage buy-out, management buy-out etc.
Both Kinder Morgan Energy Partners LP and Kohlberg Kravis
Roberts & Co. maintain Zacks #3 Ranks, which is equivalent to a
short-term Hold rating.
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BIG 5 SPORTING (BGFV): Free Stock Analysis Report
EL PASO CORP (EP): Free Stock Analysis Report
KKR & CO LP (KKR): Free Stock Analysis Report
KINDER MORGAN (KMI): Free Stock Analysis Report
KINDER MORG ENG (KMP): Free Stock Analysis Report
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