Imperial Capital Cuts Price Target on FLIR Systems (FLIR) to $36 Following 3Q; Reiterates Outperform
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk 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
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- Sigma Designs (SIGM): Revenue Headwinds Drive PT Cut - Baird
- MKM Partners Raises Price Target on Arista Networks (ANET) Following U.S. Customs and Border Protection Approval
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!