Compass Point Downgrades Cardtronics Inc (CATM) to Neutral; In-line Q2; Reaching Fair Value
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Price: $28.81 --0%
Rating Summary:
6 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 10
Rating Summary:
6 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 10
Trade CATM Now!
Compass Point downgraded Cardtronics Inc (NASDAQ: CATM) from Buy to Neutral with a price target of $31.00.
Analyst, Douglas Greiner, said, "2Q was as expected with Adjusted EPS of $0.38 and our downgrade is unrelated to the quarter. We continue to see value in the company's differentiated business model given that banks are struggling to operate off site ATMs at break even while Cardtronics does so at a profit. And market share whether defined in units or transactions has room for growth. Our updated investment thesis continues to expect the income statement to produce earnings growth. But at 19x this year's and 16x next year's EPS we view our existing valuation as fair..."
FY12 EPS estimate lowered from $1.68 to $1.63 and FY13 from $2.00 to $1.94.
For an analyst ratings summary and ratings history on Cardtronics Inc click here. For more ratings news on Cardtronics Inc click here.
Shares of Cardtronics Inc closed at $31.01 yesterday, with a 52 week range of $19.46-$31.46.
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Analyst, Douglas Greiner, said, "2Q was as expected with Adjusted EPS of $0.38 and our downgrade is unrelated to the quarter. We continue to see value in the company's differentiated business model given that banks are struggling to operate off site ATMs at break even while Cardtronics does so at a profit. And market share whether defined in units or transactions has room for growth. Our updated investment thesis continues to expect the income statement to produce earnings growth. But at 19x this year's and 16x next year's EPS we view our existing valuation as fair..."
FY12 EPS estimate lowered from $1.68 to $1.63 and FY13 from $2.00 to $1.94.
For an analyst ratings summary and ratings history on Cardtronics Inc click here. For more ratings news on Cardtronics Inc click here.
Shares of Cardtronics Inc closed at $31.01 yesterday, with a 52 week range of $19.46-$31.46.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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