Barclays Maintains an 'Overweight' on Demand Media (DMD); Showing Progress in 3Q11
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Price: $9.52 +1.71%
Rating Summary:
8 Buy, 6 Hold, 2 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
8 Buy, 6 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Barclays maintains an 'Overweight' on Demand Media (NYSE: DMD) price target lowered $1 to $10.00.
Barclays analyst says, "3Q11 Summary: DMD reported 3Q11 results that were slightly ahead of our expectations, with net revenue, adj. EBITDA and adj. EPS of $78MM, $14MM and $0.06, respectively, compared to our estimates for $77M, $12MM and $0.05. Pro forma revenue grew 23% YoY and adj. EBITDA margins of 18% were flat with recent levels."
"DMD largely maintained its CY11 guidance despite the 3Q11 upside, citing economy-driven conservatism. Guidance mid-points imply 15% YoY revenue growth and 29% adj. OIBDA margins (flat YoY). We are reducing our estimates and price target slightly to account for a more conservative outlook for O&O media growth. Specifically, our CY11 net revenue/adj. EBITDA estimates decline moderately to $313MM/$56MM from $315MM/$57MM previously."
For an analyst ratings summary and ratings history on Demand Media click here. For more ratings news on Demand Media click here.
Shares of Demand Media closed at $7.08 yesterday, with a 52 week range of $5.24-$27.38.
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Barclays analyst says, "3Q11 Summary: DMD reported 3Q11 results that were slightly ahead of our expectations, with net revenue, adj. EBITDA and adj. EPS of $78MM, $14MM and $0.06, respectively, compared to our estimates for $77M, $12MM and $0.05. Pro forma revenue grew 23% YoY and adj. EBITDA margins of 18% were flat with recent levels."
"DMD largely maintained its CY11 guidance despite the 3Q11 upside, citing economy-driven conservatism. Guidance mid-points imply 15% YoY revenue growth and 29% adj. OIBDA margins (flat YoY). We are reducing our estimates and price target slightly to account for a more conservative outlook for O&O media growth. Specifically, our CY11 net revenue/adj. EBITDA estimates decline moderately to $313MM/$56MM from $315MM/$57MM previously."
For an analyst ratings summary and ratings history on Demand Media click here. For more ratings news on Demand Media click here.
Shares of Demand Media closed at $7.08 yesterday, with a 52 week range of $5.24-$27.38.
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