Oppenheimer Asks Monster Worldwide (MWW): Where are the Buybacks?

February 8, 2013 2:06 PM EST
Get Alerts MWW Hot Sheet
Price: $3.41 --0%

Rating Summary:
    6 Buy, 9 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Monster Worldwide, Inc. (NYSE: MWW) shares are lower following Q4 results on Thursday morning. Oppenheimer is out with a few comments on the results today. The firm has Monster with a Perform rating.

Key points:
  • EPS of 8 cents, Street at 8 cents
  • Revenue at $211.2 million, Street at $212.5 million
  • Sees Q113 EPS of 6 to 10 cents, Street at 8 cents
  • Bookings of $261 million

Analyst Glenn Greene and his team note that bookings slipped 13 percent while revs fell 10 percent. European bookings in particular fell 30 percent, versus a five percent drop in North America bookings.

Additional cost savings are expected to be achieved via the sale of ChinaHR business and LatAm and Turkey restructuring efforts.

Though Monster Worldwide is attractively valued, said Greene, strategic alternatives appear tabled and visibility to sustained growth and profitability remains limited. He also noted the reluctance for management to repurchase shares.

Greene is adjusting some numbers following results. FY13 EPS moves from 50 cents down to 43 cents while revs go from $857.5 million to $829 million.

Monster Worldwide is down about two percent Friday afternoon.

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

Shares of Monster Worldwide closed at $5.44 yesterday.

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