Morgan Keegan

NEW YORK, (newratings.com) – Analysts at Morgan Keegan maintain their “market perform” rating on Furniture Brands International Inc (FBN.NYS), while reducing their estimates for the company.


In a research note published this morning, the analysts mention that the company is yet to name the successor of its CFO Denise Ramose. Furniture Brands International would find it extremely challenging to renegotiate its revolving credit agreement without a CFO and the deadline is June 29, the analysts say. The operating EPS estimate for 2Q has been reduced from -$0.06 to -$0.09 to reflect higher SG&A expenses.