Oppenheimer Lowers HGG Estimates

Oppenheimer has lowered its 3Q (Dec.) and 4Q (Mar.) EPS estimates for hhgregg, Inc. (NYSE: HGG) to $0.72 and $0.36 from $0.74 and $0.39 previously.

“In FY10/FY11 we now look for earnings of $1.25/$1.70 from $1.30/$1.90,” Oppenheimer writes. “Our price target goes from $30 to $27.”

hhgregg closed Tuesday at $22.19.