Brean Capital Reiterates Buy on Analogic (ALOG) Following 4Q - PT to $100
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- Fed's Yellen says 'makes sense' to gradually raise interest rates
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk 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
- NetEase (NTES) PT Raised To $305 At Goldman Sachs, Maintains Buy
- MKM Partners Cuts Price Target on Target (TGT) to $70 Following Reported Holiday Sales
- Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss
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!