Wedbush Remains Sidelined on Blackhawk Network (HAWK) Following Mixed 3Q

October 13, 2016 7:47 AM EDT
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Price: $35.50 +1.00%

Rating Summary:
    11 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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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."

For an analyst ratings summary and ratings history on Blackhawk Network click here. For more ratings news on Blackhawk Network click here.

Shares of Blackhawk Network closed at $34.09 yesterday.



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