J.Jill Analysts Slash Their Forecasts After Q2 Earnings Results

Core Insights - J. Jill Inc reported better-than-expected earnings and sales results for Q2, but lowered its 2024 forecast [1][3] - The company experienced a 0.9% year-over-year decline in Q2 sales, totaling $155.24 million, which exceeded analyst expectations [1] - Comparable sales increased by 1.7%, with direct-to-consumer net sales rising by 3.6%, making up 47.1% of total sales [1] Financial Performance - Adjusted EPS for the second quarter was$ 1.05, surpassing the consensus estimate of $0.91 [1] - The company expects net sales for 2024 to be flat to up 1%, a revision from a prior growth estimate of 1% to 3% [3] - Adjusted EBITDA is projected to decline by 4% to 9%, compared to a previous forecast of a 1% to 3% decline [3] Analyst Ratings and Price Targets - Following the earnings announcement, J. Jill shares fell by 1.6% to$ 26.36 [3] - TD Cowen analyst Jonna Kim maintained a Hold rating and reduced the price target from $37 to$ 32 [5] - Telsey Advisory Group analyst Dana Telsey also maintained a Market Perform rating, cutting the price target from $38 to$ 31 [5] - The consensus price target for J. Jill is $38.17, with a high of$ 44 and a low of $31 from various analysts [6] - Recent analyst ratings suggest an average price target of$ 33.67, indicating a potential upside of 27% from current levels [6]