Imperial Capital Cuts Price Target on Nautilus (NLS) to $17 Following 3Q

November 2, 2016 7:28 AM EDT
Get Alerts NLS Hot Sheet
Price: $17.85 +2.59%

Rating Summary:
    5 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 28 | Down: 20 | New: 17
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Imperial Capital maintained an In-Line rating on Nautilus (NYSE: NLS), and cut the price target to $17.00 (from $26.00), following the company's 3Q. NLS reported revenue of $81mn, below the Street's $93mn estimate. Advertising response rates declined in late June, causing management to pull back spending. Imperial modeled for direct cardo to remain flat in 2017 and direct strength to grow to $25mn.

Analyst George Kelly commented, "On 10/31/16, NLS reported revenue of $81mn, below our estimate of $91mn (Street was $93mn). Results were negatively impacted by weakness in the direct segment, where advertising productivity declined starting in late June. The retail segment also missed our estimate as Octane Fitness is not expected to achieve previous full year guidance. Tight expense control led to EPS and EBITDA relatively consistent with expectations. Management does not expect to achieve the previous full year organic revenue growth target of 10%-12%."

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

Shares of Nautilus closed at $17.05 yesterday.



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