Imperial Capital Cuts Price Target on FLIR Systems (FLIR) to $36 Following 3Q; Reiterates Outperform
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields fall on U.S. jobs data, euro flat before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Imperial Capital maintained an Outperform rating on FLIR Systems, Inc. (NASDAQ: FLIR), and cut the price target to $36.00 (from $40.00), following the company's 3Q earnings report. FLIR reported revenue of $405mn, consistent with the Street estimate of $404mn. Adjusted diluted EPS of $0.43 was in-line with Street estimates.
Analyst Jeff Kessler commented, "During the quarter, the Instruments division generated revenue of $83mn, up about 11% year-over-year (yoy) from $75mn. The Surveillance segment was up 4% yoy to $136mn (vs. our estimate of $135mn). The Security division was down 5% yoy to $56mn (vs. our estimate of $66mn). OEM & Emerging Markets was up 22% yoy to $63mn (vs. our estimate of $54mn). Maritime was up 4% yoy to $41mn (vs. our estimate of $41mn). Detection was up 2% yoy to $26mn (vs. our estimate of $30mn). Management continues to guide to FY16 revenue of $1.60-1.65bn, and adjusted EPS of $1.60-1.65."
Shares of FLIR Systems, Inc. closed at $32.17 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- Cowen Cuts Price Target on Workday (WDAY) Following 3Q
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Imperial 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!