Catalent (CTLT): Reorg and EPS Miss But Strong Outlook Make This A Transition Quarter - Piper Jaffray

August 30, 2016 7:57 AM EDT
Get Alerts CTLT Hot Sheet
Price: $24.37 -0.25%

Rating Summary:
    6 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Piper Jaffray analyst, Sean Wieland, reiterated his Overweight rating on shares of Catalent (NYSE: CTLT) after the company reported upside to revenue, in-line EBITDA, and a penny miss on EPS. A reorganization into three new business units re-casts the numbers slightly differently, but the outlook remains the same. Beinheim is back on track.

CTLT reported revenue of $532M, ahead of consensus of $500M. Adjusted EBITDA of $142M was in-line with consensus views, while EPS of $0.52 was a penny below consensus. FY17 guidance was mostly in-line: Revenue of $1.92-$1.925M was ahead of consensus, while EBITDA guidance of $430-$455M is in-line with consensus views.

The price target of $30.00 drops slightly from $30.50 on lower estimates.

For an analyst ratings summary and ratings history on Catalent click here. For more ratings news on Catalent click here.

Shares of Catalent closed at $25.09 yesterday.

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Piper Jaffray, Sean Wieland

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