Oppenheimer Maintains a 'Perform' on Monster Worldwide (MWW); Q2 Review; Attractively Valued, But Limited Visibility
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Price: $5.22 -1.69%
Rating Summary:
6 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade MWW Now!
Oppenheimer maintains a 'Perform' on Monster Worldwide (NYSE: MWW).
Analyst, Glenn Greene, said, "MWW reported 2Q12 EPS of $0.06, in line with our/Street's estimate, while revenue missed (partially FX-related) and the 3Q12 revenue/bookings outlook is relatively soft. The continued deceleration in International is not entirely surprising and we believe is largely cyclical. N. American revenue fell 5% Y/Y, decelerating modestly compared to 1Q12, and continued to lag industry peers. Encouragingly N. America bookings grew 14% Y/Y, led by Government and Staffing. Management provided cautious commentary regarding the macro environment but suggests that newer products (PRS, CAN, SeeMore) are gaining traction. We reduce our estimates modestly to reflect the subdued guidance and decelerating Int'l bookings. While MWW is attractively valued, visibility to future growth/profitability trends remains limited. Accordingly, we maintain our Perform rating." (FY12 EPS estimate lowered from $0.23 to $0.19 and FY13 from $0.29 to $0.24)
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 $6.10 yesterday, with a 52 week range of $5.72-$11.08.
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Analyst, Glenn Greene, said, "MWW reported 2Q12 EPS of $0.06, in line with our/Street's estimate, while revenue missed (partially FX-related) and the 3Q12 revenue/bookings outlook is relatively soft. The continued deceleration in International is not entirely surprising and we believe is largely cyclical. N. American revenue fell 5% Y/Y, decelerating modestly compared to 1Q12, and continued to lag industry peers. Encouragingly N. America bookings grew 14% Y/Y, led by Government and Staffing. Management provided cautious commentary regarding the macro environment but suggests that newer products (PRS, CAN, SeeMore) are gaining traction. We reduce our estimates modestly to reflect the subdued guidance and decelerating Int'l bookings. While MWW is attractively valued, visibility to future growth/profitability trends remains limited. Accordingly, we maintain our Perform rating." (FY12 EPS estimate lowered from $0.23 to $0.19 and FY13 from $0.29 to $0.24)
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 $6.10 yesterday, with a 52 week range of $5.72-$11.08.
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