NEW YORK, September 19 (newratings.com) – Analysts at Morgan Joseph downgrade Furniture Brands International Inc (FBN.NYS) to “underperform,” while reducing their estimates for the company.


In a research note published this morning, the analysts mention that the company has reduced its operating EPS guidance for 3Q from $0.02-$0.06 to ($0.01)-$0.03. Furniture Brands International has cited weak order flows and persistent softness in the industry environment as reasons for the downward revision. The EPS estimates for FY07 and FY08 have been reduced from $0.30 to $0.19 and from $0.25 to $0.17, respectively.