Nomura Securities Reiterates a 'Buy' on TAL International (TAL); Attractive Yield; Raising Estimates
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Price: $43.31 +0.16%
Rating Summary:
8 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade TAL Now!
Nomura Securities reiterates a 'Buy' on TAL International (NYSE: TAL) price target of $46.00.
Analyst, Bill Carcache, said, "TAL reported 2Q12 adjusted EPS of $1.00, in line with our estimate and $0.02 above consensus estimate of $0.98. Leasing revenues and gain on sale of leasing equipment were both better than our estimates. This was offset by higher-than-expected depreciation and interest expense. Leasing companies continue to benefit from being at the crossroads of a deteriorating European bank lending market and healthy mid-single-digit demand for containerized trade. We’re pleased to see that the company met its heavy capex obligations while raising its dividend once again. TAL raised its dividend ~3% to $0.60 (from $0.58), ahead of consensus expectations. TAL shares currently offer an attractive 7.5% dividend yield (based on Thursday’s close). Given the favorable earnings outlook, strong asset growth, and continued strength in the container leasing market, we’re reiterating our rating on TAL shares at this time."
FY12E EPS from $4.01 to $4.11; FY13E EPS from $4.21 to $4.25.
For an analyst ratings summary and ratings history on TAL International click here. For more ratings news on TAL International click here.
Shares of TAL International closed at $32.11 yesterday, with a 52 week range of $22.35-$42.00.
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Analyst, Bill Carcache, said, "TAL reported 2Q12 adjusted EPS of $1.00, in line with our estimate and $0.02 above consensus estimate of $0.98. Leasing revenues and gain on sale of leasing equipment were both better than our estimates. This was offset by higher-than-expected depreciation and interest expense. Leasing companies continue to benefit from being at the crossroads of a deteriorating European bank lending market and healthy mid-single-digit demand for containerized trade. We’re pleased to see that the company met its heavy capex obligations while raising its dividend once again. TAL raised its dividend ~3% to $0.60 (from $0.58), ahead of consensus expectations. TAL shares currently offer an attractive 7.5% dividend yield (based on Thursday’s close). Given the favorable earnings outlook, strong asset growth, and continued strength in the container leasing market, we’re reiterating our rating on TAL shares at this time."
FY12E EPS from $4.01 to $4.11; FY13E EPS from $4.21 to $4.25.
For an analyst ratings summary and ratings history on TAL International click here. For more ratings news on TAL International click here.
Shares of TAL International closed at $32.11 yesterday, with a 52 week range of $22.35-$42.00.
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