Wedbush Remains Sidelined on Blackhawk Network (HAWK) Following Mixed 3Q
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Wedbush reiterated a Neutral rating and $30.00 price target on Blackhawk Network (NASDAQ: HAWK) following the company's 3Q earnings report. Operating Revenue of $169m missed consensus expectations of $189m. However, Non-GAAP EPS of $0.14 came in ahead of consensus estimates of $0.09 and the guidance range of $0.05-$0.11.
Analyst Gil Luria commented, "Adjusted Operating Revenue of $169m missed consensus expectations of $189m and the guidance range of $172-$193m. AOR miss was attributed to continued weakness due to EMV compliance issues at a number of their Grocery distribution channels and Cardpool shortfall due to disruptions at a kiosk distribution partner. Non-GAAP EPS of $0.14 topped consensus of $0.09 and the guidance range of $0.05-$0.11 due to mix shift and lower interest expense and tax rate."
Shares of Blackhawk Network closed at $34.09 yesterday.
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