Imperial Capital Raises Price Target on Control4 (CTRL) to $11 Following 2Q Report
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Imperial Capital reiterated an In-Line rating on Control4 Corporation (NASDAQ: CTRL), and raised the price target to $11.00 (from $8.50), following the company's 2Q earnings report. CTRL reported revenue of $53mn, above estimates of $51mn. EPS of $0.23 beat estimates by $0.04.
Analyst Jeff Kessler commented, "On 7/4/16, Control4 reported 2Q16 results with revenue of $53mn, up 19% year-over-year (yoy) from $45mn, and above our estimate of $51mn. Diluted EPS of $0.23 was up from $0.16 during the same period last year, and above our estimate of $0.19. Management improved gross margin to 48.9%, up sequentially from 47.6%, and above our estimate of 47.0%. This is the second quarter in a row that company earnings have exceeded our estimates."
Shares of Control4 Corporation closed at $10.92 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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