Brean Capital Reiterates Buy on Analogic (ALOG) Following 4Q - PT to $100
- Wall St. set to open lower, weighed down by GE
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
- General Electric (GE) Tops Q3 EPS by 2c; Updates FY16 EPS Outlook
- Pre-Open Stock Movers 10/21: (ALKS) (RAI) (PFPT) (MSFT) Higher; (SGY) (TWLO) (RRGB) Lower (more...)
- Oil rises on Russia's output freeze commitment
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Brean Capital reiterated a Buy rating on Analogic Corporation (NASDAQ: ALOG), and raised the price target to $100.00 (from $90.00), following the company's 4Q earnings report. ALOG reported revenues of $138.1 million, ahead of the consensus of $139.0 million. EPS was reported at $1.02, missing consensus by $0.15.
Analyst Jason Wittes commented, "ALOG reported F4Q16 revenues down 11% to $138.1 million versus consensus of $139.0 million (our $137.2 million), and non-GAAP EPS of $1.02 versus consensus of $1.17 (our $1.07). As anticipated, revenues were impacted by an 11% decline in security and continued atrophy of the legacy OEM probe business. Earnings quality was good, especially on the expense control line, but a higher tax rate affected non-GAAP EPS by $0.11. The company expects F2017 revenue to grow “mid-single digits with continued non-GAAP operating margin expansion targeting approximately 1 point resulting in non-GAAP earnings growth of 10% to 14%”—we are maintaining our $540 million revenue estimate (6% growth), but lowering our EPS estimate to $4.05 (at the upper end of guidance) from $4.29, mainly reflecting a higher tax rate. New guidance reflects mid-teens ultrasound growth, flat, but stable medical imaging growth and a return to double digits. We think these are reasonably conservative estimates, with good visibility and limited contribution from new growth initiatives such as Rapid DNA. Expecting a less challenging F2017, we are raising our target from $90 to $100."
Shares of Analogic Corporation closed at $89.32 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- KLA-Tencor (KLAC) PT Lifted to $75 at Nomura
- Maxim Integrated (MXIM) PT Bumped to $45 at Jefferies Following In-Line Results on Note 7 Impact
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Brean Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!